International Assets Investment Management LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

International Assets Investment Management LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 35,611.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,054,391 shares of the electric vehicle producer’s stock after buying an additional 11,023,436 shares during the quarter. International Assets Investment Management LLC’s holdings in Tesla were worth $2,892,160,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new position in Tesla during the second quarter worth $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Clean Yield Group increased its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. boosted its stake in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TSLA shares. Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. TD Cowen raised their price objective on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. The Goldman Sachs Group reissued a “neutral” rating and set a $230.00 price objective on shares of Tesla in a report on Friday, October 11th. Barclays dropped their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Finally, Roth Mkm restated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $211.63.

Tesla Stock Performance

TSLA opened at $213.65 on Thursday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The stock has a market cap of $682.53 billion, a price-to-earnings ratio of 60.01, a PEG ratio of 6.24 and a beta of 2.29. The business has a 50 day moving average of $228.54 and a 200-day moving average of $206.41. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 20.70% of the company’s stock.

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.