Fortis Capital Management LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Fortis Capital Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 182.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,007 shares of the electric vehicle producer’s stock after purchasing an additional 13,563 shares during the quarter. Tesla accounts for about 1.1% of Fortis Capital Management LLC’s holdings, making the stock its 19th largest holding. Fortis Capital Management LLC’s holdings in Tesla were worth $5,496,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the 3rd quarter worth about $29,000. Bank & Trust Co acquired a new position in Tesla in the 2nd quarter valued at $25,000. Clean Yield Group lifted its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% in the second 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 last quarter. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter valued at about $26,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $330.24 on Thursday. The firm has a fifty day simple moving average of $246.26 and a 200-day simple moving average of $218.16. 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 company has a market capitalization of $1.06 trillion, a PE ratio of 90.48, a price-to-earnings-growth ratio of 10.67 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $358.64.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The company 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%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. Equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TSLA shares. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Canaccord Genuity Group boosted their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. The Goldman Sachs Group lifted their price objective on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada raised their target price on Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $225.06.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 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. Over the last 90 days, insiders have sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is owned by company insiders.

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.