Cerity Partners LLC Has $101.55 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Cerity Partners LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.8% during the 3rd quarter, Holdings Channel reports. The firm owned 388,135 shares of the electric vehicle producer’s stock after purchasing an additional 89,152 shares during the period. Cerity Partners LLC’s holdings in Tesla were worth $101,548,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its holdings in shares of Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management grew its stake in Tesla by 109.6% during the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after buying an additional 4,929 shares in the last quarter. Savvy Advisors Inc. raised its position in shares of Tesla by 24.2% in the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after buying an additional 1,467 shares in the last quarter. ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Tesla by 19.0% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock worth $6,394,000 after acquiring an additional 3,909 shares during the period. Finally, Blackhawk Capital Partners LLC. boosted its position in shares of Tesla by 102.0% during the 3rd quarter. Blackhawk Capital Partners LLC. now owns 5,598 shares of the electric vehicle producer’s stock worth $1,465,000 after acquiring an additional 2,827 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price objective on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Argus reissued a “buy” rating and set a $286.00 target price on shares of Tesla in a research note on Friday, July 26th. Royal Bank of Canada lifted their price target on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, Canaccord Genuity Group boosted their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $230.18.

Tesla Price Performance

Tesla stock opened at $352.56 on Friday. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 96.59, a PEG ratio of 11.03 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $264.07 and a 200 day simple moving average of $226.09. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.53.

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

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.