Assenagon Asset Management S.A. Purchases 856,862 Shares of Tesla, Inc. (NASDAQ:TSLA)

Assenagon Asset Management S.A. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 85.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,861,829 shares of the electric vehicle producer’s stock after buying an additional 856,862 shares during the period. Tesla comprises approximately 0.9% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 17th biggest position. Assenagon Asset Management S.A.’s holdings in Tesla were worth $487,110,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Walker Asset Management LLC bought a new position in Tesla in the 3rd quarter valued at $2,813,000. Bogart Wealth LLC lifted its holdings in Tesla by 80.3% during the 3rd quarter. Bogart Wealth LLC now owns 2,324 shares of the electric vehicle producer’s stock valued at $608,000 after buying an additional 1,035 shares in the last quarter. Rogco LP boosted its position in Tesla by 3,126.7% in the 3rd quarter. Rogco LP now owns 1,936 shares of the electric vehicle producer’s stock valued at $507,000 after buying an additional 1,876 shares during the period. Yoder Wealth Management Inc. bought a new position in Tesla in the 3rd quarter worth about $248,000. Finally, Fiduciary Planning LLC purchased a new position in shares of Tesla during the third quarter worth approximately $210,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of a number of research reports. Truist Financial boosted their price target on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday. William Blair started coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Canaccord Genuity Group lifted their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday. Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 price target on shares of Tesla in a research report on Tuesday, September 10th. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $218.09.

Tesla Stock Performance

NASDAQ TSLA traded up $43.77 during trading hours on Thursday, reaching $257.42. The stock had a trading volume of 132,534,247 shares, compared to its average volume of 93,992,914. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The stock has a fifty day moving average of $228.54 and a 200 day moving average of $206.41. 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 stock has a market cap of $822.36 billion, a P/E ratio of 71.61, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released 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 business had revenue of $25.50 billion during 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 revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.70% of the stock is owned by corporate insiders.

About Tesla

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.