Wulff Hansen & CO. Has $47.38 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wulff Hansen & CO. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 19,688.0% in the 2nd quarter, Holdings Channel reports. The fund owned 239,435 shares of the electric vehicle producer’s stock after buying an additional 238,225 shares during the period. Wulff Hansen & CO.’s holdings in Tesla were worth $47,379,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in Tesla by 14.2% during the 2nd quarter. Renaissance Technologies LLC now owns 2,051,425 shares of the electric vehicle producer’s stock worth $405,936,000 after acquiring an additional 255,100 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Tesla by 131.0% during the second quarter. Citizens Financial Group Inc. RI now owns 25,543 shares of the electric vehicle producer’s stock valued at $5,054,000 after purchasing an additional 14,484 shares in the last quarter. One Capital Management LLC grew its holdings in shares of Tesla by 2.1% during the second quarter. One Capital Management LLC now owns 13,135 shares of the electric vehicle producer’s stock worth $2,599,000 after purchasing an additional 273 shares during the last quarter. Menard Financial Group LLC increased its stake in shares of Tesla by 13.0% in the second quarter. Menard Financial Group LLC now owns 3,491 shares of the electric vehicle producer’s stock valued at $691,000 after buying an additional 402 shares during the period. Finally, Sierra Summit Advisors LLC bought a new position in Tesla in the 2nd quarter valued at approximately $4,198,000. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TSLA shares. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 target price on shares of Tesla in a report on Monday. Truist Financial reissued a “hold” rating and issued a $215.00 price objective on shares of Tesla in a research note on Wednesday, August 14th. TD Cowen raised their target price on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Barclays reduced their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Finally, Stifel Nicolaus assumed coverage on Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price objective for the company. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Price Performance

TSLA stock opened at $226.78 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The business has a 50-day simple moving average of $222.85 and a two-hundred day simple moving average of $194.75. The company has a market capitalization of $723.25 billion, a P/E ratio of 57.85, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.93.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. Research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’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 transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Profile

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.