Tesla, Inc. $TSLA Shares Purchased by Allianz SE

Allianz SE increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 105,959 shares of the electric vehicle producer’s stock after purchasing an additional 3,849 shares during the period. Tesla accounts for about 0.8% of Allianz SE’s holdings, making the stock its 23rd biggest holding. Allianz SE’s holdings in Tesla were worth $33,659,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. First Merchants Corp lifted its stake in shares of Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after acquiring an additional 31 shares in the last quarter. Alaska Wealth Advisors grew its stake in Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after purchasing an additional 32 shares in the last quarter. KWB Wealth increased its holdings in Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after purchasing an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. raised its position in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after purchasing an additional 34 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its position in shares of Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent analyst reports. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Glj Research reissued a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. CICC Research boosted their target price 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. Roth Capital set a $505.00 price target on shares of Tesla and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Finally, Stifel Nicolaus set a $483.00 price target on Tesla and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and ten have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $391.08.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value 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. The trade was a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

Tesla Stock Down 2.1%

TSLA stock opened at $430.60 on Thursday. The stock has a market cap of $1.43 trillion, a PE ratio of 287.07, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The firm’s 50-day simple moving average is $427.33 and its 200 day simple moving average is $359.18. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two 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) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same period in the previous year, the business posted $0.72 EPS. Tesla’s revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla 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.