Gunderson Capital Management Inc. Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Gunderson Capital Management Inc. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 22,339 shares of the electric vehicle producer’s stock, valued at approximately $9,021,000. Tesla makes up 4.4% of Gunderson Capital Management Inc.’s portfolio, making the stock its 10th largest holding.

A number of other hedge funds have also added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. lifted its position in Tesla by 112.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 35,857 shares of the electric vehicle producer’s stock valued at $7,095,000 after buying an additional 18,953 shares during the period. Envestnet Asset Management Inc. lifted its position in Tesla by 20.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,101,923 shares of the electric vehicle producer’s stock valued at $218,048,000 after acquiring an additional 185,335 shares during the period. Redwood Wealth Management Group LLC grew its holdings in Tesla by 49.1% in the second quarter. Redwood Wealth Management Group LLC now owns 3,958 shares of the electric vehicle producer’s stock worth $783,000 after purchasing an additional 1,304 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Tesla by 36.6% during the second quarter. Brown Brothers Harriman & Co. now owns 10,921 shares of the electric vehicle producer’s stock valued at $2,161,000 after purchasing an additional 2,926 shares in the last quarter. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of Tesla during the second quarter valued at approximately $220,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

NASDAQ TSLA opened at $403.31 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. The stock has a market cap of $1.29 trillion, a price-to-earnings ratio of 110.50, a PEG ratio of 10.80 and a beta of 2.30. The company’s 50 day moving average is $379.81 and its two-hundred day moving average is $283.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on TSLA. UBS Group upped their price target on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Jefferies Financial Group lifted their price target on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Cantor Fitzgerald increased their price objective on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Canaccord Genuity Group lifted their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $296.60.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by company insiders.

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. 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.