Oppenheimer Asset Management Inc. Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Oppenheimer Asset Management Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 30.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,755 shares of the electric vehicle producer’s stock after acquiring an additional 10,898 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Tesla were worth $12,233,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter valued at $29,000. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter worth about $25,000. Clean Yield Group raised 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 purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC boosted its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in Tesla during the 2nd quarter worth approximately $26,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLA has been the subject of several research analyst reports. Barclays increased their price objective on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research report on Wednesday, October 23rd. Piper Sandler lifted their price target on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $225.06.

Tesla Stock Up 0.5 %

Shares of NASDAQ:TSLA opened at $330.24 on Thursday. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 90.48, a price-to-earnings-growth ratio of 10.67 and a beta of 2.29. The company has a 50 day moving average of $246.26 and a two-hundred day moving average of $218.16. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. As a group, analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, 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 transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were 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 of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders have sold 188,797 shares of company stock worth $57,616,781 over the last quarter. 20.70% of the stock is owned by corporate insiders.

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.