Edmond DE Rothschild Holding S.A. Grows Stake in Tesla, Inc. $TSLA

by · The Markets Daily

Edmond DE Rothschild Holding S.A. grew its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,544 shares of the electric vehicle producer’s stock after buying an additional 1,125 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Tesla were worth $5,255,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC bought a new position in shares of Tesla during the first quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC increased its holdings in Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after buying an additional 6,435,598 shares during the period. Vanguard Group Inc. raised its stake in Tesla by 1.8% in the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after buying an additional 4,502,976 shares in the last quarter. Finally, Amundi lifted its holdings in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. The Goldman Sachs Group reduced their price target on Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Barclays reissued a “negative” rating and set a $350.00 price target (up from $275.00) on shares of Tesla in a research report on Thursday, October 16th. CICC Research lifted their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Finally, Bank of America lifted their price target on shares of Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $394.03.

Get Our Latest Research Report on TSLA

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 82,606 shares of company stock valued at $33,554,102. Company insiders own 19.90% of the company’s stock.

Tesla Trading Up 0.4%

NASDAQ TSLA opened at $419.40 on Wednesday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The company has a fifty day simple moving average of $433.66 and a two-hundred day simple moving average of $367.35. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.39 trillion, a P/E ratio of 279.60, a P/E/G ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $28.10 billion for 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 business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla 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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