Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Stablepoint Partners LLC

Stablepoint Partners LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,676 shares of the electric vehicle producer’s stock after purchasing an additional 385 shares during the quarter. Stablepoint Partners LLC’s holdings in Tesla were worth $2,532,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after buying an additional 206,248 shares in the last quarter. Morse Asset Management Inc grew its stake in shares of Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after buying an additional 3,462 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in Tesla by 7.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after purchasing an additional 1,943 shares during the period. NewEdge Advisors LLC grew its position in shares of Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after purchasing an additional 27,130 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Tesla during the 1st quarter worth about $1,941,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Tesla stock traded up $0.73 during mid-day trading on Monday, reaching $218.53. The company had a trading volume of 19,317,941 shares, compared to its average volume of 94,851,172. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. 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 company has a 50 day moving average of $225.43 and a 200-day moving average of $203.96. The firm has a market cap of $696.94 billion, a price-to-earnings ratio of 55.56, a PEG ratio of 6.48 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 business 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%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 in the last 90 days. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TSLA. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Friday. Piper Sandler increased their price target on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Canaccord Genuity Group restated a “buy” rating and issued a $254.00 target price on shares of Tesla in a research note on Friday, September 13th. William Blair started coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $210.72.

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.