Tesla, Inc. $TSLA is Intech Investment Management LLC’s 7th Largest Position

Intech Investment Management LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 536,510 shares of the electric vehicle producer’s stock after acquiring an additional 47,349 shares during the period. Tesla comprises about 1.6% of Intech Investment Management LLC’s holdings, making the stock its 7th largest holding. Intech Investment Management LLC’s holdings in Tesla were worth $170,428,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. MJP Associates Inc. ADV grew its stake in Tesla by 28.2% in the second quarter. MJP Associates Inc. ADV now owns 6,374 shares of the electric vehicle producer’s stock worth $2,025,000 after purchasing an additional 1,402 shares during the period. Union Savings Bank boosted its holdings in shares of Tesla by 15.9% during the 2nd quarter. Union Savings Bank now owns 735 shares of the electric vehicle producer’s stock valued at $227,000 after buying an additional 101 shares in the last quarter. Fusion Capital LLC grew its position in shares of Tesla by 23.7% in the 2nd quarter. Fusion Capital LLC now owns 1,463 shares of the electric vehicle producer’s stock worth $465,000 after buying an additional 280 shares during the period. New England Capital Financial Advisors LLC increased its stake in shares of Tesla by 7.4% in the 2nd quarter. New England Capital Financial Advisors LLC now owns 1,149 shares of the electric vehicle producer’s stock worth $365,000 after acquiring an additional 79 shares in the last quarter. Finally, Cooper Capital Advisors LLC bought a new stake in Tesla during the second quarter worth about $230,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, 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 transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Stock Up 0.6%

TSLA opened at $404.35 on Friday. The stock has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 269.57, a PEG ratio of 16.84 and a beta of 2.06. The firm has a 50 day moving average price of $429.67 and a 200-day moving average price of $360.30. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

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

Analyst Ratings Changes

Several research firms have recently issued reports on TSLA. President Capital lifted their target price on shares of Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. William Blair reissued a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Roth Capital set a $505.00 price target on Tesla and gave the stock a “buy” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. increased their price objective on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Finally, HSBC raised their price objective on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $393.61.

About Tesla

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.