Graypoint LLC Acquires 2,707 Shares of Tesla, Inc. (NASDAQ:TSLA)

Graypoint LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 19.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,958 shares of the electric vehicle producer’s stock after acquiring an additional 2,707 shares during the period. Graypoint LLC’s holdings in Tesla were worth $4,437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. International Assets Investment Management LLC lifted its stake in Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP raised its holdings in shares of Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after purchasing an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after purchasing an additional 1,479,378 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $288.53 on Thursday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $289.59. The firm has a market capitalization of $926.20 billion, a price-to-earnings ratio of 79.05, a P/E/G ratio of 8.01 and a beta of 2.29. 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 firm’s 50 day simple moving average is $237.23 and its 200 day simple moving average is $213.07.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts expect that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 76,797 shares of company stock worth $19,211,821. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on TSLA. Wells Fargo & Company increased their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their price target on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their price target on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Phillip Securities raised Tesla to a “moderate sell” rating in a report on Friday, October 25th. Finally, Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Tesla in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $219.45.

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.