Granite Investment Partners LLC Invests $212,000 in Tesla, Inc. (NASDAQ:TSLA)

Granite Investment Partners LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 810 shares of the electric vehicle producer’s stock, valued at approximately $212,000.

A number of other large investors have also recently made changes to their positions in the stock. Legacy Financial Group Inc. grew its stake in shares of Tesla by 3.1% in the second quarter. Legacy Financial Group Inc. now owns 1,348 shares of the electric vehicle producer’s stock worth $353,000 after acquiring an additional 40 shares during the period. Deseret Mutual Benefit Administrators grew its position in Tesla by 25.4% during the second quarter. Deseret Mutual Benefit Administrators now owns 360 shares of the electric vehicle producer’s stock valued at $94,000 after buying an additional 73 shares during the period. Arbor Investment Advisors LLC grew its position in Tesla by 1.0% during the second quarter. Arbor Investment Advisors LLC now owns 3,947 shares of the electric vehicle producer’s stock valued at $1,033,000 after buying an additional 41 shares during the period. XML Financial LLC grew its position in Tesla by 19.9% during the second quarter. XML Financial LLC now owns 4,907 shares of the electric vehicle producer’s stock valued at $1,287,000 after buying an additional 814 shares during the period. Finally, Acadian Asset Management LLC grew its position in Tesla by 36.4% during the second quarter. Acadian Asset Management LLC now owns 153,262 shares of the electric vehicle producer’s stock valued at $40,103,000 after buying an additional 40,929 shares during the period. 41.87% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $250.02, for a total value of $1,000,080.00. Following the completion of the transaction, the chief financial officer now directly owns 104,504 shares of the company’s stock, valued at approximately $26,128,090.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $242.53, for a total value of $2,546,565.00. Following the completion of the transaction, the senior vice president now directly owns 66,834 shares of the company’s stock, valued at approximately $16,209,250.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $250.02, for a total transaction of $1,000,080.00. Following the completion of the transaction, the chief financial officer now directly owns 104,504 shares of the company’s stock, valued at $26,128,090.08. The disclosure for this sale can be found here. Insiders sold 43,065 shares of company stock valued at $10,248,880 in the last three months. 20.90% of the stock is owned by insiders.

Tesla Stock Performance

TSLA stock opened at $222.18 on Wednesday. The firm has a market cap of $706.29 billion, a price-to-earnings ratio of 71.44, a PEG ratio of 4.08 and a beta of 2.28. The firm has a 50-day simple moving average of $243.94 and a two-hundred day simple moving average of $234.48. Tesla, Inc. has a one year low of $101.81 and a one year high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.18 and a current ratio of 1.69.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 18th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.07). The firm had revenue of $23.35 billion for the quarter, compared to analysts’ expectations of $24.19 billion. Tesla had a net margin of 11.21% and a return on equity of 21.47%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.7 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. Citigroup cut their target price on shares of Tesla from $271.00 to $255.00 and set a “neutral” rating for the company in a research report on Thursday, October 19th. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Jefferies Financial Group dropped their price target on shares of Tesla from $265.00 to $250.00 in a research report on Monday, October 9th. Canaccord Genuity Group reiterated a “buy” rating and issued a $293.00 price target on shares of Tesla in a research report on Friday, September 29th. Finally, Barclays reiterated an “equal weight” rating and issued a $260.00 price target on shares of Tesla in a research report on Friday, September 22nd. Seven investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $238.28.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.