Pacer Advisors Inc. Acquires 7,966 Shares of Tesla, Inc. (NASDAQ:TSLA)

Pacer Advisors Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 2.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 297,722 shares of the electric vehicle producer’s stock after acquiring an additional 7,966 shares during the quarter. Pacer Advisors Inc.’s holdings in Tesla were worth $77,893,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new stake in shares of Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% during 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. Transcendent Capital Group LLC bought a new stake in Tesla in the 3rd quarter worth about $29,000. Finally, Clean Yield Group boosted its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research report on Wednesday, October 23rd. Truist Financial upped their price target on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Thursday, October 17th. Nine 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $230.18.

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 completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 301,187 shares of company stock worth $92,956,692. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.5 %

TSLA stock opened at $340.17 on Friday. The company has a market capitalization of $1.09 trillion, a PE ratio of 93.20, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29. 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, Inc. has a one year low of $138.80 and a one year high of $358.64. The company’s 50 day moving average price is $261.63 and its two-hundred day moving average price is $224.93.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 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 company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the company earned $0.53 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal 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.