Polymer Capital Management HK LTD Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Polymer Capital Management HK LTD increased its position in Tesla, Inc. (NASDAQ:TSLA) by 109.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 15,900 shares of the electric vehicle producer’s stock after purchasing an additional 8,300 shares during the period. Polymer Capital Management HK LTD’s holdings in Tesla were worth $4,160,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC boosted its holdings 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 worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC purchased a new stake in Tesla during the 3rd quarter valued at $29,000. Clean Yield Group boosted its stake 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 buying an additional 48 shares during the period. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the third quarter valued at $35,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent analyst reports. HSBC reissued a “reduce” rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Bank of America lifted their target price on Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $243.75.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $351.42 on Wednesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company’s fifty day moving average price is $278.63 and its 200 day moving average price is $235.10. The company has a market capitalization of $1.13 trillion, a PE ratio of 96.28, a price-to-earnings-growth ratio of 11.60 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. On average, research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’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 value 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. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value 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 approximately $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock valued at $92,956,692 in the last three months. 20.70% of the stock is currently owned by company insiders.

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.