Legacy Investment Solutions LLC Buys Shares of 956 Tesla, Inc. (NASDAQ:TSLA)

Legacy Investment Solutions LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 956 shares of the electric vehicle producer’s stock, valued at approximately $250,000.

Other institutional investors also recently bought and sold shares of the company. FMR LLC raised its holdings in Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tesla by 13.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings 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 grew its holdings in Tesla by 11.9% during 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 acquiring an additional 1,294,093 shares during the period. Finally, International Assets Investment Management LLC raised its position in Tesla by 35,611.2% in the third 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 acquiring an additional 11,023,436 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Tesla stock opened at $389.22 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm’s fifty day moving average price is $285.53 and its 200 day moving average price is $238.74. The company 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. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $389.49.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for 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%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on TSLA. Stifel Nicolaus upped their price target on shares of Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Guggenheim lifted their price target on shares of Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research report on Thursday. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price target on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $245.84.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $37,226,491.76. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 520,280 shares of company stock worth $170,418,640. 20.70% of the stock is currently owned by 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.