Bamco Inc. NY Reduces Stock Holdings in Tesla, Inc. $TSLA

Bamco Inc. NY cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,018,798 shares of the electric vehicle producer’s stock after selling 1,194,335 shares during the quarter. Tesla makes up 11.2% of Bamco Inc. NY’s investment portfolio, making the stock its largest holding. Bamco Inc. NY owned 0.40% of Tesla worth $4,135,551,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Holos Integrated Wealth LLC boosted its holdings in shares of Tesla by 10.8% in the second quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer’s stock worth $102,000 after acquiring an additional 30 shares during the period. First Merchants Corp boosted its holdings in Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares during the period. Kaye Capital Management grew its position in shares of Tesla by 3.1% during the 2nd quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer’s stock valued at $333,000 after purchasing an additional 31 shares in the last quarter. Spectrum Wealth Advisory Group LLC increased its holdings in shares of Tesla by 3.4% in the second quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer’s stock worth $299,000 after purchasing an additional 31 shares during the period. Finally, Wambolt & Associates LLC raised its position in shares of Tesla by 1.0% in the second quarter. Wambolt & Associates LLC now owns 3,119 shares of the electric vehicle producer’s stock worth $938,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 2.7%

Shares of NASDAQ:TSLA opened at $458.96 on Friday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock’s 50-day moving average is $435.52 and its 200 day moving average is $376.19. The company has a market cap of $1.53 trillion, a PE ratio of 305.97, a P/E/G ratio of 15.09 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping 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 return on equity of 6.61% and a net margin of 5.51%.The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TSLA. Dbs Bank raised Tesla to a “hold” rating in a report on Wednesday, November 5th. New Street Research raised their target price on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. DZ Bank reiterated a “sell” rating on shares of Tesla in a research report on Thursday, October 23rd. CICC Research increased their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Finally, President Capital lifted their price objective on shares of Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $399.33.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction 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 directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 119,457 shares of company stock valued at $52,137,945. 19.90% of the stock is currently owned by company 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.