U S Global Investors Inc. Makes New $2.45 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

U S Global Investors Inc. purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, HoldingsChannel reports. The firm purchased 9,370 shares of the electric vehicle producer’s stock, valued at approximately $2,451,000.

Several other hedge funds have also made changes to their positions in the stock. Integris Wealth Management LLC grew its holdings in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc boosted its holdings in shares of Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the period. Echo Wealth Management LLC raised its holdings in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares during the period. WASHINGTON TRUST Co boosted its stake in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the period. Finally, Bellevue Asset Management LLC grew its position in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA traded down $2.05 during trading on Tuesday, reaching $216.80. The company’s stock had a trading volume of 7,764,661 shares, compared to its average volume of 93,711,266. The firm has a 50 day moving average price of $228.09 and a 200 day moving average price of $205.99. The firm has a market capitalization of $691.42 billion, a price-to-earnings ratio of 55.52, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 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 $271.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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). The company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 in the last quarter. Insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. HSBC reissued a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. William Blair started coverage on Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Friday, October 11th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $211.63.

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.