Tactive Advisors LLC Takes Position in Tesla, Inc. $TSLA

Tactive Advisors LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,537 shares of the electric vehicle producer’s stock, valued at approximately $2,712,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. increased its holdings in shares of Tesla by 40.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 35,650 shares of the electric vehicle producer’s stock worth $11,325,000 after buying an additional 10,349 shares during the last quarter. V2 Financial group LLC purchased a new position in Tesla in the second quarter worth about $223,000. SPG Advisors LLC purchased a new position in Tesla in the second quarter worth about $735,000. Wellington Capital Management Inc. bought a new stake in Tesla during the second quarter worth approximately $379,000. Finally, Second Line Capital LLC raised its position in Tesla by 2.1% during the second quarter. Second Line Capital LLC now owns 8,726 shares of the electric vehicle producer’s stock valued at $2,772,000 after purchasing an additional 176 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the sale, the chief financial officer owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was 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 directly owned 1,391,615 shares of the company’s stock, valued at approximately $627,145,215.90. The trade was a 3.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 119,457 shares of company stock worth $52,137,945. Corporate insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $500.00 price target on shares of Tesla in a research note on Thursday, October 23rd. Glj Research reissued a “sell” rating on shares of Tesla in a research note on Wednesday, October 22nd. CICC Research boosted their target price on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Finally, TD Cowen raised their price target on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $399.33.

Tesla Price Performance

Shares of TSLA stock opened at $458.96 on Friday. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. 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 fifty day simple moving average of $435.52 and a two-hundred day simple moving average of $376.29. The stock has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 305.97, a P/E/G ratio of 15.50 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share 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 firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company Profile

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.