Shelton Capital Management Increases Position in Tesla, Inc. $TSLA

by · The Markets Daily

Shelton Capital Management boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 240,070 shares of the electric vehicle producer’s stock after purchasing an additional 750 shares during the quarter. Tesla comprises about 1.8% of Shelton Capital Management’s portfolio, making the stock its 9th biggest position. Shelton Capital Management’s holdings in Tesla were worth $76,261,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. LGT Financial Advisors LLC purchased a new stake in Tesla in the second quarter worth about $29,000. Chelsea Counsel Co. raised its holdings in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Evergreen Private Wealth LLC lifted its position in shares of Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the period. Glynn Capital Management LLC bought a new position in shares of Tesla during the second quarter valued at approximately $35,000. Finally, LSV Asset Management increased its holdings in Tesla by 400.0% during the second quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 96 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 0.8%

Shares of Tesla stock opened at $430.10 on Monday. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The firm’s 50-day moving average price is $433.95 and its 200 day moving average price is $369.34. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.43 trillion, a PE ratio of 286.73, a P/E/G ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA – Get Free Report) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $0.72 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. TD Cowen boosted their price target on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Cantor Fitzgerald set a $510.00 target price on shares of Tesla and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Wednesday, October 22nd. Industrial Alliance Securities set a $300.00 price target on Tesla in a research report on Monday, October 13th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $394.03.

Get Our Latest Research Report on Tesla

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 82,606 shares of company stock worth $33,554,102. Corporate insiders own 19.90% of the company’s stock.

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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