Tesla, Inc. (NASDAQ:TSLA) Stock Position Raised by Connable Office Inc.

Connable Office Inc. boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,872 shares of the electric vehicle producer’s stock after acquiring an additional 38 shares during the quarter. Connable Office Inc.’s holdings in Tesla were worth $3,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the third quarter worth $29,000. Bank & Trust Co acquired a new position in Tesla in the 2nd quarter worth about $25,000. Clean Yield Group raised its stake in shares of Tesla by 60.0% during the 3rd 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 grew its stake in shares of 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 buying an additional 81 shares in the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in Tesla in the second quarter worth approximately $26,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related 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 value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $36,761,200. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 188,797 shares of company stock valued at $57,616,781 over the last ninety days. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a report on Wednesday, July 24th. Jefferies Financial Group upped their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, William Blair initiated coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $228.24.

Tesla Stock Performance

NASDAQ:TSLA opened at $311.18 on Friday. The stock has a market capitalization of $998.91 billion, a P/E ratio of 85.25, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64. The firm has a 50 day moving average of $248.48 and a 200-day moving average of $218.94.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during 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%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.