GVO Asset Management Ltd Grows Stock Holdings in Tesla Inc (NASDAQ:TSLA)

GVO Asset Management Ltd raised its position in Tesla Inc (NASDAQ:TSLA) by 290.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,000 shares of the electric vehicle producer’s stock after buying an additional 58,000 shares during the quarter. Tesla comprises about 14.2% of GVO Asset Management Ltd’s portfolio, making the stock its 3rd largest position. GVO Asset Management Ltd’s holdings in Tesla were worth $17,430,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its stake in shares of Tesla by 89.0% in the 1st quarter. Janus Henderson Group PLC now owns 126,851 shares of the electric vehicle producer’s stock valued at $35,496,000 after purchasing an additional 59,736 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Tesla during the 1st quarter worth approximately $92,000. Private Ocean LLC boosted its position in Tesla by 1,413.3% during the 1st quarter. Private Ocean LLC now owns 227 shares of the electric vehicle producer’s stock worth $64,000 after buying an additional 212 shares during the period. Fort Point Capital Partners LLC boosted its position in Tesla by 8.1% during the 1st quarter. Fort Point Capital Partners LLC now owns 1,660 shares of the electric vehicle producer’s stock worth $465,000 after buying an additional 124 shares during the period. Finally, Noven Financial Group Inc. acquired a new stake in Tesla during the 1st quarter worth approximately $245,000. 55.94% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the stock. Robert W. Baird cut their target price on shares of Tesla from $400.00 to $340.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 21st. Royal Bank of Canada reiterated a “sell” rating and set a $190.00 target price on shares of Tesla in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “sell” rating on shares of Tesla in a research report on Sunday, July 7th. Nord/LB reiterated a “sell” rating and set a $200.00 target price on shares of Tesla in a research report on Thursday, July 25th. Finally, Oppenheimer cut their target price on shares of Tesla from $437.00 to $356.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Eighteen research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $269.53.

Tesla stock opened at $233.85 on Friday. The stock’s 50 day moving average price is $233.87. The company has a market cap of $42.09 billion, a price-to-earnings ratio of -40.88 and a beta of 0.62. The company has a current ratio of 0.83, a quick ratio of 0.42 and a debt-to-equity ratio of 1.79. Tesla Inc has a 52-week low of $176.99 and a 52-week high of $387.46.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share for the quarter, missing the consensus estimate of ($1.55) by ($0.76). The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.44 billion. Tesla had a negative net margin of 2.64% and a negative return on equity of 11.97%. The business’s revenue was up 58.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($3.06) EPS. Equities research analysts expect that Tesla Inc will post -7.51 EPS for the current fiscal year.

In other news, Director Brad W. Buss sold 38,540 shares of Tesla stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $228.37, for a total value of $8,801,379.80. Following the completion of the sale, the director now owns 34,874 shares in the company, valued at approximately $7,964,175.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zachary Kirkhorn sold 150 shares of Tesla stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $255.68, for a total transaction of $38,352.00. Following the completion of the sale, the chief financial officer now owns 9,962 shares of the company’s stock, valued at approximately $2,547,084.16. The disclosure for this sale can be found here. Insiders sold a total of 117,456 shares of company stock valued at $24,587,180 in the last quarter. 24.40% of the stock is currently owned by company insiders.

Tesla Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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