Waterloo Capital L.P. Buys 1,728 Shares of Tesla, Inc. $TSLA

Waterloo Capital L.P. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 13.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,485 shares of the electric vehicle producer’s stock after acquiring an additional 1,728 shares during the quarter. Waterloo Capital L.P.’s holdings in Tesla were worth $4,601,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TSLA. Chelsea Counsel Co. lifted its stake in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in Tesla during the second quarter valued at about $29,000. Evergreen Private Wealth LLC lifted its position in shares of Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares in the last quarter. Glynn Capital Management LLC bought a new position in shares of Tesla in the second quarter worth about $35,000. Finally, LSV Asset Management raised its stake in Tesla by 400.0% during the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TSLA. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. TD Cowen lifted their price target on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. UBS Group reiterated a “sell” rating on shares of Tesla in a research note on Friday, November 7th. Royal Bank Of Canada restated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Thursday, October 23rd. Finally, Truist Financial lifted their target price on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $394.31.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last three months. 19.90% of the stock is owned by company insiders.

Tesla Trading Down 1.0%

Shares of NASDAQ TSLA opened at $391.09 on Friday. Tesla, Inc. has a 1-year low of $214.25 and a 1-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’s 50 day moving average is $433.55 and its two-hundred day moving average is $364.93. The stock has a market capitalization of $1.30 trillion, a P/E ratio of 260.73, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 6.61% and a net margin of 5.51%.The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.72 EPS. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.