Bessemer Group Inc. Decreases Stock Position in Tesla, Inc. $TSLA

by · The Cerbat Gem

Bessemer Group Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 3.0% during the 2nd quarter, Holdings Channel reports. The firm owned 38,203 shares of the electric vehicle producer’s stock after selling 1,181 shares during the quarter. Bessemer Group Inc.’s holdings in Tesla were worth $12,136,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TSLA. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the 1st quarter worth $27,000. Chelsea Counsel Co. raised its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. Centennial Bank AR raised its position in shares of Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Tesla during the 2nd quarter valued at about $29,000. Finally, Compass Wealth Management LLC raised its position in shares of Tesla by 360.0% during the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSLA. Benchmark restated a “buy” rating on shares of Tesla in a research report on Thursday, October 23rd. William Blair restated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Tesla from $435.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group decreased their target price on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Finally, Bank of America upped their target price on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and eleven have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $381.00.

Check Out Our Latest Stock Report on TSLA

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $460.55 on Wednesday. The firm has a market cap of $1.53 trillion, a PE ratio of 307.03, a price-to-earnings-growth ratio of 16.51 and a beta of 2.08. The firm’s 50 day simple moving average is $403.03 and its 200-day simple moving average is $343.93. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Profile

(Free Report)

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.

Further Reading

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