Blue Capital Inc. Makes New Investment in Tesla, Inc. $TSLA

by · The Markets Daily

Blue Capital Inc. bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,733 shares of the electric vehicle producer’s stock, valued at approximately $551,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Siren L.L.C. purchased a new position in Tesla during the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC raised its stake in 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 buying an additional 826 shares during the last quarter. Norges Bank acquired a new stake in shares of Tesla during the second quarter worth $11,839,824,000. Police & Firemen s Retirement System of New Jersey increased its holdings in Tesla by 5.6% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock worth $135,688,000 after buying an additional 22,607 shares during the period. Finally, Keystone Global Partners LLC purchased a new position in shares of Tesla during the 1st quarter valued at about $594,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 56,820 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the sale, the director directly owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $443.93, for a total value of $1,170,643.41. Following the sale, the chief financial officer owned 13,757 shares in the company, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 119,457 shares of company stock worth $52,137,945 in the last three months. Corporate insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of a number of research reports. Morgan Stanley set a $425.00 price objective on Tesla and gave the company an “equal weight” rating in a report on Sunday, December 7th. Industrial Alliance Securities set a $300.00 price objective on Tesla in a research report on Monday, October 13th. Cantor Fitzgerald set a $510.00 target price on shares of Tesla and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $600.00 price objective on shares of Tesla in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $399.33.

Get Our Latest Analysis on Tesla

Tesla Trading Up 2.7%

NASDAQ TSLA opened at $458.96 on Friday. The stock has a market capitalization of $1.53 trillion, a P/E ratio of 305.97, a P/E/G ratio of 15.09 and a beta of 1.87. The firm has a 50-day moving average price of $435.52 and a 200 day moving average price of $376.19. Tesla, Inc. has a 52-week low of $214.25 and a 52-week 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 – Get Free Report) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

About Tesla

(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.

Further Reading