Tesla, Inc. $TSLA Shares Purchased by RNC Capital Management LLC

by · The Markets Daily

RNC Capital Management LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 232.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,977 shares of the electric vehicle producer’s stock after buying an additional 6,976 shares during the quarter. RNC Capital Management LLC’s holdings in Tesla were worth $2,586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Goldman Sachs Group Inc. raised its position in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in shares of Tesla during the 1st quarter worth approximately $3,247,619,000. GAMMA Investing LLC raised its position in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Amundi raised its position in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. increased its position in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,000 shares of company stock worth $48,663,510. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on TSLA shares. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research report on Sunday, August 17th. Robert W. Baird restated a “neutral” rating and issued a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a research report on Friday. UBS Group set a $290.00 price target on Tesla in a research report on Monday, June 30th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $303.00.

Read Our Latest Research Report on TSLA

Tesla Stock Performance

Shares of Tesla stock opened at $350.84 on Monday. The stock has a market cap of $1.13 trillion, a PE ratio of 202.80, a price-to-earnings-growth ratio of 12.24 and a beta of 2.06. The business has a fifty day simple moving average of $324.00 and a 200-day simple moving average of $301.88. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $210.51 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. Tesla’s revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.

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