Pekin Hardy Strauss Inc. Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Pekin Hardy Strauss Inc. bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, HoldingsChannel.com reports. The fund bought 792 shares of the electric vehicle producer’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Tesla by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after buying an additional 301,968 shares during the period. Jennison Associates LLC increased its position in Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the period. International Assets Investment Management LLC raised its holdings in Tesla by 35,611.2% during 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 purchasing an additional 11,023,436 shares during the last quarter. Swiss National Bank lifted 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 valued at $2,229,003,000 after purchasing an additional 33,100 shares during the period. Finally, Strategic Financial Concepts LLC grew its position in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TSLA shares. Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research report on Wednesday, October 23rd. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Canaccord Genuity Group raised their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price target on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $231.06.

Tesla Trading Down 4.0 %

Shares of Tesla stock opened at $338.59 on Tuesday. The stock has a market cap of $1.09 trillion, a P/E ratio of 92.76, a P/E/G ratio of 11.45 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. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $361.93. The business’s 50 day moving average is $266.31 and its 200-day moving average is $227.97.

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

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated 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 directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,187 shares of company stock worth $92,956,692. Insiders own 20.70% of the company’s stock.

About Tesla

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.