Panagora Asset Management Inc. Purchases 74,976 Shares of Tesla, Inc. $TSLA

Panagora Asset Management Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 10.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 818,670 shares of the electric vehicle producer’s stock after purchasing an additional 74,976 shares during the period. Tesla comprises 1.2% of Panagora Asset Management Inc.’s investment portfolio, making the stock its 12th biggest position. Panagora Asset Management Inc.’s holdings in Tesla were worth $260,059,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.8% in the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC boosted its position in Tesla by 2.0% in the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after purchasing an additional 1,269,304 shares during the last quarter. Norges Bank purchased a new stake in shares of Tesla during the 2nd quarter valued at $11,839,824,000. Goldman Sachs Group Inc. raised its stake in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Tesla by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after buying an additional 1,134,678 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 82,606 shares of company stock valued at $33,554,102. 19.90% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Tesla stock opened at $430.10 on Monday. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 286.73, a PEG ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The business has a fifty day moving average price of $433.95 and a 200-day moving average price of $369.34.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period in the previous year, the company posted $0.72 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays reaffirmed a “negative” rating and issued a $350.00 price objective (up previously from $275.00) on shares of Tesla in a research report on Thursday, October 16th. Truist Financial lifted their price target on shares of Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Mizuho set a $475.00 price objective on Tesla and gave the company an “outperform” rating in a research note on Tuesday, November 25th. BNP Paribas Exane started coverage on Tesla in a research report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 target price for the company. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $500.00 target price on shares of Tesla in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $394.03.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.