Pinpoint Asset Management Ltd Has $42.34 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Pinpoint Asset Management Ltd grew its position in Tesla, Inc. (NASDAQ:TSLA) by 0.3% during the third quarter, Holdings Channel reports. The institutional investor owned 161,828 shares of the electric vehicle producer’s stock after acquiring an additional 500 shares during the quarter. Tesla comprises 9.2% of Pinpoint Asset Management Ltd’s investment portfolio, making the stock its 3rd largest holding. Pinpoint Asset Management Ltd’s holdings in Tesla were worth $42,339,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Point72 Italy S.r.l. acquired a new position in shares of Tesla during the third quarter worth $2,093,000. Polar Asset Management Partners Inc. grew its stake in Tesla by 33.9% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 16,200 shares of the electric vehicle producer’s stock worth $4,238,000 after buying an additional 4,100 shares during the last quarter. Polymer Capital Management HK LTD increased its position in Tesla by 109.2% during the 3rd quarter. Polymer Capital Management HK LTD now owns 15,900 shares of the electric vehicle producer’s stock valued at $4,160,000 after buying an additional 8,300 shares in the last quarter. Mission Creek Capital Partners Inc. boosted its holdings in Tesla by 18.9% in the third quarter. Mission Creek Capital Partners Inc. now owns 2,202 shares of the electric vehicle producer’s stock worth $576,000 after acquiring an additional 350 shares in the last quarter. Finally, Morse Asset Management Inc grew its stake in shares of Tesla by 46.8% during the third quarter. Morse Asset Management Inc now owns 8,762 shares of the electric vehicle producer’s stock worth $2,292,000 after acquiring an additional 2,793 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s 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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on TSLA shares. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. 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 research note on Thursday, October 24th. Morgan Stanley reissued an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group increased their price objective on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. 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 company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $243.75.

Tesla Stock Down 1.6 %

NASDAQ TSLA opened at $351.42 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $361.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The business has a fifty day moving average price of $278.63 and a 200 day moving average price of $235.10. The company has a market cap of $1.13 trillion, a P/E ratio of 96.28, a P/E/G ratio of 11.60 and a beta of 2.36.

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

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.