Wrapmanager Inc. Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Wrapmanager Inc. grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 17.6% during the third quarter, HoldingsChannel reports. The fund owned 10,462 shares of the electric vehicle producer’s stock after acquiring an additional 1,569 shares during the quarter. Wrapmanager Inc.’s holdings in Tesla were worth $2,737,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its position in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares during the last quarter. Swiss National Bank grew its position in Tesla by 0.4% during the 3rd quarter. Swiss National Bank now owns 8,519,675 shares of the electric vehicle producer’s stock worth $2,229,003,000 after purchasing an additional 33,100 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC increased its position in shares of Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after acquiring an additional 135,966 shares during the period. Finally, National Pension Service raised its stake in Tesla by 15.3% in the 3rd quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock worth $1,355,939,000 after acquiring an additional 688,717 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA stock opened at $338.74 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm’s 50-day moving average is $254.75 and its two-hundred day moving average is $222.13. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. The company has a market capitalization of $1.09 trillion, a PE ratio of 92.81, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the firm earned $0.53 earnings per share. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TSLA. Stifel Nicolaus boosted their price target on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Piper Sandler boosted their price target on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Argus restated a “buy” rating and issued a $286.00 target price on shares of Tesla in a research note on Friday, July 26th. Finally, 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 note on Thursday, November 14th. Nine 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 MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $230.18.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock worth $57,616,781 over the last three months. Insiders own 20.70% of the company’s stock.

Tesla 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.