Stevens Capital Management LP Acquires Shares of 122,853 Tesla, Inc. (NASDAQ:TSLA)

Stevens Capital Management LP purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 122,853 shares of the electric vehicle producer’s stock, valued at approximately $32,142,000. Tesla accounts for approximately 4.6% of Stevens Capital Management LP’s investment portfolio, making the stock its 5th largest holding.

A number of other large investors have also recently made changes to their positions in TSLA. International Assets Investment Management LLC boosted its stake in shares of 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 worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Clean Energy Transition LLP boosted its position in Tesla by 347.7% in the 2nd 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 boosted its position in Tesla by 21,816.0% in the 2nd 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 buying an additional 5,875,484 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Tesla by 13.7% in 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 valued at $6,377,970,000 after buying an additional 2,946,763 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after buying an additional 1,479,378 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TSLA shares. Wells Fargo & Company boosted their price objective on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Bank of America boosted their price target on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $380.00 in a report on Monday. Finally, Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $243.75.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $357.93 on Thursday. The company’s fifty day moving average price is $280.65 and its 200 day moving average price is $235.96. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93. The company has a market capitalization of $1.15 trillion, a PE ratio of 98.06, a price-to-earnings-growth ratio of 11.41 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last announced its quarterly 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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 7,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $37,226,491.76. This represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 420,577 shares of company stock valued at $135,230,506. 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.