Perpetual Ltd Raises Stock Holdings in Tesla, Inc. $TSLA

Perpetual Ltd raised its position in Tesla, Inc. (NASDAQ:TSLA) by 11.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 4,705 shares of the electric vehicle producer’s stock after purchasing an additional 475 shares during the period. Perpetual Ltd’s holdings in Tesla were worth $1,495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Means Investment CO. Inc. increased its holdings in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. increased its holdings in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares during the period. Siren L.L.C. acquired a new position in shares of Tesla in the first quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC increased its holdings in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares during the period. Finally, Keystone Global Partners LLC acquired a new position in shares of Tesla in the first quarter valued at approximately $594,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 2.2%

Shares of NASDAQ:TSLA opened at $426.07 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock’s fifty day simple moving average is $340.68 and its 200-day simple moving average is $308.35. The company has a market capitalization of $1.42 trillion, a P/E ratio of 246.28, a P/E/G ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The firm’s revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 208,606 shares of company stock valued at $77,360,462. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TSLA shares. William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. UBS Group set a $290.00 price objective on Tesla in a report on Monday, June 30th. Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price objective on shares of Tesla in a report on Friday, September 5th. Benchmark reaffirmed a “buy” rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $317.70.

Tesla 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.