Advisors Asset Management Inc. Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Advisors Asset Management Inc. increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,972 shares of the electric vehicle producer’s stock after buying an additional 80 shares during the quarter. Advisors Asset Management Inc.’s holdings in Tesla were worth $2,347,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Tesla by 35,611.2% during 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 during the period. Clean Energy Transition LLP lifted its position in Tesla by 347.7% during 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 in the last quarter. Strategic Financial Concepts LLC grew its holdings in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of 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 worth $416,341,000 after buying an additional 1,479,378 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after buying an additional 1,294,093 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of 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 0.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 in the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Tesla stock opened at $352.56 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $361.53. 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 has a 50-day moving average price of $264.07 and a 200-day moving average price of $226.43. The firm has a market capitalization of $1.13 trillion, a PE ratio of 96.59, a price-to-earnings-growth ratio of 11.03 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TSLA. Jefferies Financial Group increased their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Morgan Stanley restated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Finally, William Blair began coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $230.18.

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.