Susquehanna Fundamental Investments LLC Grows Holdings in Tesla, Inc. (NASDAQ:TSLA)

Susquehanna Fundamental Investments LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 40.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,155 shares of the electric vehicle producer’s stock after acquiring an additional 40,633 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Tesla were worth $27,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Integris Wealth Management LLC boosted its stake in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares in the last quarter. Echo Wealth Management LLC boosted its stake in Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares in the last quarter. Bellevue Asset Management LLC boosted its stake in Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares in the last quarter. Finally, Cypress Capital Group boosted its stake in Tesla by 1.7% in the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 47 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. Argus reissued a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $254.00 price target on shares of Tesla in a research note on Friday, September 13th. Piper Sandler upped their price target on Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price target on shares of Tesla in a research note on Tuesday, September 10th. Finally, Barclays cut their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $209.90.

Tesla Trading Up 2.5 %

NASDAQ:TSLA opened at $260.46 on Friday. The company has a market cap of $832.08 billion, a P/E ratio of 66.44, a P/E/G ratio of 6.92 and a beta of 2.29. The stock’s fifty day moving average price is $221.47 and its two-hundred day moving average price is $197.95. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. As a group, analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction 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. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 over the last 90 days. 25.10% of the stock is owned by insiders.

About Tesla

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.