Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Mainsail Asset Management LLC

Mainsail Asset Management LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,586 shares of the electric vehicle producer’s stock after buying an additional 226 shares during the quarter. Tesla comprises approximately 0.7% of Mainsail Asset Management LLC’s portfolio, making the stock its 15th largest holding. Mainsail Asset Management LLC’s holdings in Tesla were worth $938,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TSLA. Bank & Trust Co acquired a new stake in Tesla in the 2nd quarter valued at $25,000. Clean Yield Group boosted its position in shares of 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 buying an additional 48 shares during the period. Abich Financial Wealth Management LLC grew its stake 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 in the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the 2nd quarter valued at about $26,000. Finally, M&R Capital Management Inc. lifted its position in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction 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 sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s 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 transaction, the senior vice president now owns 67,491 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 in the last three months. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Down 0.1 %

Tesla stock opened at $220.70 on Friday. The firm has a market capitalization of $703.86 billion, a P/E ratio of 56.30, a P/E/G ratio of 5.94 and a beta of 2.29. The company has a 50-day simple moving average of $227.67 and a 200-day simple moving average of $205.39. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.78 EPS. As a group, equities analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on TSLA shares. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Argus reaffirmed a “buy” rating and set a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Friday, October 11th. Finally, Piper Sandler boosted their price target on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $210.72.

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.