Cinctive Capital Management LP Purchases 2,174 Shares of Tesla, Inc. (NASDAQ:TSLA)

Cinctive Capital Management LP boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 31.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,174 shares of the electric vehicle producer’s stock after acquiring an additional 2,174 shares during the period. Cinctive Capital Management LP’s holdings in Tesla were worth $2,400,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC increased 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 valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Clean Energy Transition LLP increased its stake in shares of Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC raised its holdings in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Tesla by 13.7% during the third 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 valued at $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after acquiring an additional 1,479,378 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. HSBC restated a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a research note on Tuesday, August 20th. Wolfe Research started coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $243.75.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’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 transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % 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 owned by corporate insiders.

Tesla Stock Up 3.5 %

NASDAQ TSLA opened at $357.09 on Tuesday. The stock’s 50-day moving average price is $274.55 and its 200-day moving average price is $232.59. The company has a market capitalization of $1.15 trillion, a P/E ratio of 97.83, a price-to-earnings-growth ratio of 11.21 and a beta of 2.36. 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 52 week low of $138.80 and a 52 week high of $361.93.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue for the quarter 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, equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.