Tesla, Inc. (NASDAQ:TSLA) Position Raised by MCIA Inc

MCIA Inc grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,989 shares of the electric vehicle producer’s stock after purchasing an additional 141 shares during the period. Tesla comprises approximately 1.9% of MCIA Inc’s investment portfolio, making the stock its 9th largest holding. MCIA Inc’s holdings in Tesla were worth $8,369,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vinva Investment Management Ltd lifted its position in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after buying an additional 43,685 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after purchasing an additional 1,741 shares during the last quarter. Tyler Stone Wealth Management raised its stake in Tesla by 109.6% in the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after purchasing an additional 4,929 shares during the last quarter. Fred Alger Management LLC raised its stake in Tesla by 187.0% in the 3rd quarter. Fred Alger Management LLC now owns 725,282 shares of the electric vehicle producer’s stock valued at $189,756,000 after purchasing an additional 472,565 shares during the last quarter. Finally, Savvy Advisors Inc. raised its stake in 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 purchasing an additional 1,467 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $389.22 on Friday. The business has a 50-day moving average of $282.96 and a 200 day moving average of $236.89. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $389.49. The stock has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 106.64, a price-to-earnings-growth ratio of 11.62 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during 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 business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated 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 directly owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 520,280 shares of company stock worth $170,418,640. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on TSLA. Wolfe Research began coverage on Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a research note on Thursday, October 24th. Truist Financial increased their price objective on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Wells Fargo & Company raised their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $245.84.

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.