Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 187.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 725,282 shares of the electric vehicle producer’s stock after acquiring an additional 472,565 shares during the period. Tesla comprises 0.9% of Fred Alger Management LLC’s investment portfolio, making the stock its 19th biggest position. Fred Alger Management LLC’s holdings in Tesla were worth $189,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TSLA. Connable Office Inc. increased its position in shares of Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares during the period. Holistic Financial Partners increased its holdings in Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after purchasing an additional 40 shares during the period. Integris Wealth Management LLC raised its position in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc boosted its stake in shares of Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares during the period. Finally, Altman Advisors Inc. grew its position in shares of Tesla by 0.4% during the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after buying an additional 43 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 1.6 %

NASDAQ:TSLA opened at $332.89 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $361.93. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $272.41 and a 200-day simple moving average of $230.60. The company has a market capitalization of $1.07 trillion, a PE ratio of 91.20, a price-to-earnings-growth ratio of 10.81 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $0.53 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TSLA shares. JPMorgan Chase & Co. raised their target price on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Stifel Nicolaus lifted their price objective on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Guggenheim boosted their target price on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research note on Thursday, October 24th. Barclays raised their price target on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Wolfe Research started coverage on Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Nine 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’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $231.06.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated 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 owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is owned by corporate 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.