Strategy Asset Managers LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Strategy Asset Managers LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,842 shares of the electric vehicle producer’s stock, valued at approximately $482,000.

A number of other hedge funds have also bought and sold shares of the business. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the 3rd quarter worth $29,000. Bank & Trust Co bought a new stake in Tesla during the second quarter worth about $25,000. Clean Yield Group grew its stake 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 buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the 2nd quarter valued at approximately $26,000. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was 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 directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 7.08 % decrease in their ownership of the stock. 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 Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, 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 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 in the last three months. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TSLA. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research note on Thursday, October 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Stifel Nicolaus upped their price objective on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Finally, Argus reissued a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $230.18.

Tesla Price Performance

Shares of TSLA opened at $342.03 on Thursday. The firm has a market cap of $1.10 trillion, a PE ratio of 93.71, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64. The business’s 50 day moving average price is $259.42 and its two-hundred day moving average price is $224.12. 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 issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. Tesla’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

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.