Seven Eight Capital LP Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Seven Eight Capital LP acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 8,488 shares of the electric vehicle producer's stock, valued at approximately $1,680,000.

Several other institutional investors have also added to or reduced their stakes in the business. Strategic Financial Concepts LLC raised its holdings in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. raised its stake in Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer's stock valued at $57,102,287,000 after buying an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Tesla by 2,101.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer's stock worth $365,064,000 after buying an additional 1,402,443 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer's stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. raised its holdings in shares of Tesla by 60.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer's stock valued at $501,654,000 after acquiring an additional 1,072,366 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. Stifel Nicolaus began coverage on shares of Tesla in a research note on Tuesday, June 25th. They issued a "buy" rating and a $265.00 target price on the stock. KGI Securities restated a "neutral" rating and set a $236.00 target price on shares of Tesla in a research report on Thursday, July 25th. Guggenheim increased their target price on Tesla from $134.00 to $153.00 and gave the stock a "sell" rating in a report on Friday, September 13th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $245.00 price target on shares of Tesla in a report on Monday. Finally, The Goldman Sachs Group reduced their price objective on shares of Tesla from $248.00 to $230.00 and set a "neutral" rating for the company in a report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $209.60.

Tesla Price Performance

NASDAQ:TSLA traded up $14.82 during trading hours on Thursday, reaching $242.02. The company had a trading volume of 86,387,605 shares, compared to its average volume of 96,232,469. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $221.44 and a two-hundred day moving average of $195.15. Tesla, Inc. has a one year low of $138.80 and a one year high of $273.93. The firm has a market capitalization of $773.17 billion, a PE ratio of 60.94, a PEG ratio of 6.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The firm's revenue was up 2.3% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company's stock, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the firm's stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company's stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company's stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

About Tesla

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.