StoneX Group Inc. Buys 523 Shares of Tesla, Inc. (NASDAQ:TSLA)

StoneX Group Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 18,918 shares of the electric vehicle producer’s stock after acquiring an additional 523 shares during the period. StoneX Group Inc.’s holdings in Tesla were worth $4,950,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Tesla by 0.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after purchasing an additional 331 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Tesla by 23.5% in the 1st quarter. 1832 Asset Management L.P. now owns 8,760 shares of the electric vehicle producer’s stock valued at $1,540,000 after buying an additional 1,669 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Tesla by 26.0% in the first quarter. Earnest Partners LLC now owns 1,395 shares of the electric vehicle producer’s stock valued at $245,000 after buying an additional 288 shares during the period. Ascent Group LLC raised its position in shares of Tesla by 12.0% during the first quarter. Ascent Group LLC now owns 9,901 shares of the electric vehicle producer’s stock worth $1,740,000 after acquiring an additional 1,058 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its holdings in Tesla by 69.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 55,245 shares of the electric vehicle producer’s stock valued at $9,712,000 after acquiring an additional 22,624 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TSLA shares. Canaccord Genuity Group boosted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Finally, Truist Financial increased their target price on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $230.18.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $352.56 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $264.07 and a two-hundred day simple moving average of $226.43. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.53. The firm has a market cap of $1.13 trillion, a price-to-earnings ratio of 96.59, a price-to-earnings-growth ratio of 11.03 and a beta of 2.29.

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 the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on 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 owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock worth $92,956,692 over the last quarter. 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.