Evergreen Capital Management LLC Increases Holdings in Tesla, Inc. $TSLA
Evergreen Capital Management LLC increased its stake in Tesla, Inc. by 8.6% during Q2, owning 34,111 shares worth $10.84 million. Other major investors like Vanguard, Geode, and Norges Bank also adjusted their positions. Insider transactions included sales by Kimbal Musk and James R. Murdoch. Analysts have mixed ratings on Tesla, with a consensus target price of $399.33. Tesla's stock opened at $458.96 on Friday, with a market cap of $1.53 trillion.
Evergreen Capital Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 34,111 shares of the electric vehicle producer's stock after buying an additional 2,712 shares during the quarter. Evergreen Capital Management LLC's holdings in Tesla were worth $10,836,000 at the end of the most recent quarter.
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A number of other large investors have also added to or reduced their stakes in TSLA. Vanguard Group Inc. increased its stake in shares of Tesla by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer's stock worth $79,856,764,000 after purchasing an additional 4,502,976 shares during the last quarter. Geode Capital Management LLC increased its position in Tesla by 2.0% in the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer's stock worth $20,480,477,000 after buying an additional 1,269,304 shares during the last quarter. Norges Bank bought a new stake in shares of Tesla in the second quarter valued at $11,839,824,000. Legal & General Group Plc lifted its position in shares of Tesla by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer's stock valued at $6,424,705,000 after buying an additional 1,134,678 shares during the last quarter. Finally, Amundi grew its stake in shares of Tesla by 20.4% during the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer's stock worth $6,374,284,000 after acquiring an additional 3,422,270 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.
Insider Transactions at Tesla
In other Tesla news, Director Kimbal Musk sold 56,820 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the director owned 1,391,615 shares of the company's stock, valued at $627,145,215.90. The trade was a 3.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 119,457 shares of company stock valued at $52,137,945. 19.90% of the stock is owned by corporate insiders.
Analyst Ratings Changes
- Tesla Bulls See $500 Ahead—But Bears Warn of a Painful Reversal
A number of equities research analysts recently issued reports on TSLA shares. Robert W. Baird upgraded Tesla from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Royal Bank Of Canada restated an "outperform" rating and set a $500.00 price target on shares of Tesla in a research note on Thursday, October 23rd. Canaccord Genuity Group cut their price objective on shares of Tesla from $490.00 to $482.00 and set a "buy" rating for the company in a report on Thursday, October 23rd. Roth Capital set a $505.00 target price on shares of Tesla and gave the company a "buy" rating in a report on Thursday, October 23rd. Finally, Bank of America raised their price target on Tesla from $341.00 to $471.00 and gave the stock a "neutral" rating in a report on Wednesday, October 29th. One 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 stock. According to data from MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus target price of $399.33.
Get Our Latest Stock Analysis on TSLA
Tesla Stock Up 2.7%
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TSLA opened at $458.96 on Friday. The firm has a market capitalization of $1.53 trillion, a P/E ratio of 305.97, a price-to-earnings-growth ratio of 15.50 and a beta of 1.87. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a fifty day moving average price of $435.52 and a 200-day moving average price of $376.29. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.
Tesla (NASDAQ:TSLA - Get Free Report) 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. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter last year, the company earned $0.72 earnings per share. The firm's quarterly revenue was up 11.6% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
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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