Stonegate Investment Group LLC Buys 314 Shares of Tesla, Inc. (NASDAQ:TSLA)

Stonegate Investment Group LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,454 shares of the electric vehicle producer’s stock after purchasing an additional 314 shares during the quarter. Stonegate Investment Group LLC’s holdings in Tesla were worth $642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its holdings in Tesla by 38.5% during the fourth quarter. Fisher Asset Management LLC now owns 21,119 shares of the electric vehicle producer’s stock valued at $5,248,000 after acquiring an additional 5,874 shares during the period. RFG Advisory LLC boosted its stake in Tesla by 3.2% during the 1st quarter. RFG Advisory LLC now owns 10,122 shares of the electric vehicle producer’s stock valued at $1,779,000 after purchasing an additional 311 shares during the period. Sanders Morris Harris LLC acquired a new stake in Tesla in the 1st quarter valued at approximately $328,000. &PARTNERS increased its position in Tesla by 5.5% in the 1st quarter. &PARTNERS now owns 7,040 shares of the electric vehicle producer’s stock worth $1,238,000 after buying an additional 368 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Tesla by 26.4% during the first quarter. International Assets Investment Management LLC now owns 31,554 shares of the electric vehicle producer’s stock worth $5,529,000 after buying an additional 6,591 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Mizuho boosted their price objective on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Guggenheim increased their target price on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday, September 13th. KGI Securities restated a “neutral” rating and set a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. Finally, Wolfe Research assumed coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $210.72.

Insider Activity

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This 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 through this link. In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

Tesla Stock Down 0.1 %

Shares of NASDAQ TSLA opened at $220.70 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $703.86 billion, a price-to-earnings ratio of 56.30, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The firm’s 50-day simple moving average is $227.67 and its 200 day simple moving average is $205.12.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period last year, the company earned $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 1.75 earnings per share 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.