AM Investment Strategies LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

AM Investment Strategies LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 10.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,978 shares of the electric vehicle producer’s stock after purchasing an additional 1,825 shares during the period. Tesla comprises about 1.2% of AM Investment Strategies LLC’s investment portfolio, making the stock its 17th largest position. AM Investment Strategies LLC’s holdings in Tesla were worth $4,965,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after acquiring an additional 206,248 shares in the last quarter. Morse Asset Management Inc raised its holdings in shares of Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Tesla by 34.1% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock worth $1,087,000 after purchasing an additional 1,059 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Tesla by 12.9% during the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after purchasing an additional 27,130 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in Tesla in the first quarter worth approximately $1,941,000. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,297 shares of company stock valued at $3,065,866 in the last three months. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TSLA shares. HSBC reiterated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Jefferies Financial Group lifted their target price on Tesla from $165.00 to $195.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Citigroup decreased their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research report on Wednesday, October 23rd. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $219.45.

Tesla Stock Performance

TSLA stock traded down $0.87 during midday trading on Friday, hitting $248.98. 57,544,757 shares of the stock traded hands, compared to its average volume of 82,442,504. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock’s fifty day simple moving average is $234.14 and its 200-day simple moving average is $210.39. The firm has a market cap of $799.24 billion, a P/E ratio of 68.21, a PEG ratio of 8.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. On average, analysts expect that Tesla, Inc. will post 1.96 earnings per share for the current 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.