PointState Capital LP Purchases New Position in Tesla Inc (TSLA)

PointState Capital LP purchased a new position in shares of Tesla Inc (NASDAQ:TSLA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,000 shares of the electric vehicle producer’s stock, valued at approximately $1,059,000.

Several other institutional investors have also modified their holdings of TSLA. Capital World Investors lifted its stake in shares of Tesla by 11.9% during the 3rd quarter. Capital World Investors now owns 6,817,290 shares of the electric vehicle producer’s stock worth $1,805,014,000 after purchasing an additional 726,703 shares during the period. Jennison Associates LLC increased its holdings in shares of Tesla by 11.2% during the 3rd quarter. Jennison Associates LLC now owns 4,817,282 shares of the electric vehicle producer’s stock worth $1,275,472,000 after buying an additional 485,095 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of Tesla by 68.2% during the 3rd quarter. ARK Investment Management LLC now owns 746,725 shares of the electric vehicle producer’s stock worth $197,710,000 after buying an additional 302,851 shares during the last quarter. TD Asset Management Inc. increased its holdings in shares of Tesla by 171.9% during the 3rd quarter. TD Asset Management Inc. now owns 353,582 shares of the electric vehicle producer’s stock worth $93,618,000 after buying an additional 223,539 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Tesla by 833.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 159,026 shares of the electric vehicle producer’s stock worth $42,503,000 after buying an additional 141,997 shares during the last quarter. 59.50% of the stock is currently owned by institutional investors.

Shares of NASDAQ TSLA opened at $365.71 on Friday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.47 and a current ratio of 0.81. Tesla Inc has a 12-month low of $244.59 and a 12-month high of $387.46.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share for the quarter, beating the consensus estimate of ($1.77) by $4.67. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $5.67 billion. Tesla had a negative return on equity of 34.27% and a negative net margin of 10.22%. On average, equities research analysts anticipate that Tesla Inc will post -5.21 EPS for the current year.

A number of analysts have recently commented on the company. Sanford C. Bernstein restated a “neutral” rating and set a $325.00 price objective on shares of Tesla in a report on Monday, September 10th. Canaccord Genuity set a $316.00 price objective on Tesla and gave the stock a “hold” rating in a report on Tuesday, August 28th. Oppenheimer set a $385.00 price objective on Tesla and gave the stock a “buy” rating in a report on Thursday, September 6th. Barclays restated a “sell” rating and set a $210.00 price objective on shares of Tesla in a report on Monday, August 20th. Finally, JMP Securities restated a “buy” rating and set a $412.00 price objective on shares of Tesla in a report on Thursday, October 25th. Twelve research analysts have rated the stock with a sell rating, thirteen have given a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. Tesla presently has an average rating of “Hold” and a consensus target price of $325.95.

In other news, insider Jerome M. Guillen sold 1,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $306.00, for a total transaction of $306,000.00. Following the completion of the sale, the insider now directly owns 8,598 shares in the company, valued at $2,630,988. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 1,875 shares of the firm’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $306.00, for a total value of $573,750.00. Following the sale, the director now owns 150,208 shares of the company’s stock, valued at $45,963,648. The disclosure for this sale can be found here. Insiders have sold 26,375 shares of company stock valued at $9,029,040 over the last 90 days. Insiders own 22.80% of the company’s stock.

WARNING: “PointState Capital LP Purchases New Position in Tesla Inc (TSLA)” was originally reported by WKRB News and is the sole property of of WKRB News. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international copyright law. The legal version of this report can be viewed at https://www.wkrb13.com/2018/12/16/pointstate-capital-lp-purchases-new-position-in-tesla-inc-tsla.html.

Tesla Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

Featured Story: Momentum Indicator: Relative Strength Index

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla Inc (NASDAQ:TSLA).

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply