Quintet Private Bank Europe S.A. Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Quintet Private Bank Europe S.A. lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 19.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 53,879 shares of the electric vehicle producer’s stock after acquiring an additional 8,867 shares during the quarter. Quintet Private Bank Europe S.A.’s holdings in Tesla were worth $14,096,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Bank & Trust Co purchased a new stake in Tesla in the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC increased its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Clean Yield Group lifted its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Finally, M&R Capital Management Inc. grew its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 0.3 %

Shares of TSLA traded down $0.87 during trading hours on Monday, hitting $248.11. The company had a trading volume of 29,314,993 shares, compared to its average volume of 93,862,039. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $234.14 and its 200 day moving average price is $211.15. The firm has a market cap of $796.45 billion, a P/E ratio of 67.98, a P/E/G ratio of 8.24 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm 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%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. On average, research analysts predict that Tesla, Inc. will post 1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Canaccord Genuity Group lifted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research report on Wednesday, October 23rd. William Blair started coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Company lifted their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $219.45.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,297 shares of company stock worth $3,065,866. Company insiders own 20.70% of the company’s stock.

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.