V Square Quantitative Management LLC Acquires 1,794 Shares of Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

V Square Quantitative Management LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,990 shares of the electric vehicle producer’s stock after buying an additional 1,794 shares during the quarter. Tesla accounts for 1.7% of V Square Quantitative Management LLC’s investment portfolio, making the stock its 7th largest holding. V Square Quantitative Management LLC’s holdings in Tesla were worth $11,771,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after purchasing an additional 206,248 shares during the period. Morse Asset Management Inc raised its position in shares of Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after purchasing an additional 3,462 shares during the period. NewEdge Advisors LLC raised its position in shares of Tesla by 12.9% during the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after purchasing an additional 27,130 shares during the period. Entropy Technologies LP bought a new stake in Tesla during the first quarter worth $1,941,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Tesla during the first quarter worth $79,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 0.1 %

NASDAQ TSLA traded up $0.15 during mid-day trading on Friday, reaching $221.04. The stock had a trading volume of 10,800,522 shares, compared to its average volume of 94,174,516. The stock has a market cap of $706.14 billion, a PE ratio of 62.05, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a fifty day moving average price of $227.25 and a 200 day moving average price of $204.80. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00.

Tesla (NASDAQ:TSLA – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 earnings per share. On average, research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock worth $16,663,291 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 price target on shares of Tesla in a research report on Tuesday, September 10th. Royal Bank of Canada boosted their target price on Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Barclays decreased their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. KGI Securities reissued a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a research report on Thursday, July 25th. Finally, China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a report on Friday, July 5th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $210.72.

Check Out Our Latest Stock Analysis on Tesla

Tesla Company Profile

(Free Report)

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.

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