Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Encompass More Asset Management

Encompass More Asset Management raised its position in Tesla, Inc. (NASDAQ:TSLA) by 479.0% during the 3rd quarter, Holdings Channel reports. The firm owned 9,641 shares of the electric vehicle producer’s stock after acquiring an additional 7,976 shares during the quarter. Tesla comprises about 1.0% of Encompass More Asset Management’s holdings, making the stock its 28th biggest position. Encompass More Asset Management’s holdings in Tesla were worth $2,522,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Westwood Holdings Group Inc. grew its stake in Tesla by 466.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 15,799 shares of the electric vehicle producer’s stock valued at $2,777,000 after purchasing an additional 13,012 shares in the last quarter. Bright Futures Wealth Management LLC. bought a new stake in shares of Tesla in the 1st quarter worth approximately $402,000. Transcend Capital Advisors LLC raised its stake in Tesla by 3.9% during the 2nd quarter. Transcend Capital Advisors LLC now owns 14,638 shares of the electric vehicle producer’s stock valued at $2,897,000 after acquiring an additional 546 shares in the last quarter. GAMMA Investing LLC raised its stake in Tesla by 48.3% during the 2nd quarter. GAMMA Investing LLC now owns 14,682 shares of the electric vehicle producer’s stock valued at $2,905,000 after acquiring an additional 4,781 shares in the last quarter. Finally, First Hawaiian Bank raised its stake in Tesla by 2.0% during the 2nd quarter. First Hawaiian Bank now owns 7,296 shares of the electric vehicle producer’s stock valued at $1,444,000 after acquiring an additional 144 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 301,187 shares of company stock worth $92,956,692. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $345.16 on Friday. The company’s fifty day moving average is $274.55 and its 200 day moving average is $231.81. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.93. The stock has a market cap of $1.11 trillion, a PE ratio of 94.56, a PEG ratio of 10.81 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 firm had revenue of $25.18 billion for 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 business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the topic of several research analyst reports. Royal Bank of Canada lifted their price target on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Barclays upped their price target on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Piper Sandler upped their target price on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price target on shares of Tesla in a research note on Wednesday, October 23rd. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $231.06.

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.