Martingale Asset Management L P Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Martingale Asset Management L P increased its stake in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 32.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 351 shares of the electric vehicle producer’s stock after acquiring an additional 85 shares during the period. Martingale Asset Management L P’s holdings in Tesla were worth $237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackDiamond Wealth Management Inc. boosted its position in shares of Tesla by 4.1% during the first quarter. BlackDiamond Wealth Management Inc. now owns 278 shares of the electric vehicle producer’s stock valued at $300,000 after buying an additional 11 shares during the period. Riggs Asset Managment Co. Inc. boosted its position in shares of Tesla by 0.6% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,761 shares of the electric vehicle producer’s stock valued at $1,186,000 after buying an additional 11 shares during the period. DGS Capital Management LLC boosted its position in shares of Tesla by 1.2% during the first quarter. DGS Capital Management LLC now owns 1,020 shares of the electric vehicle producer’s stock valued at $1,099,000 after buying an additional 12 shares during the period. Advisor OS LLC boosted its position in shares of Tesla by 2.4% during the second quarter. Advisor OS LLC now owns 510 shares of the electric vehicle producer’s stock valued at $344,000 after buying an additional 12 shares during the period. Finally, Alera Investment Advisors LLC boosted its position in shares of Tesla by 1.4% during the second quarter. Alera Investment Advisors LLC now owns 852 shares of the electric vehicle producer’s stock valued at $574,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 43.01% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $300.59, for a total value of $1,127,212.50. Following the sale, the chief financial officer now directly owns 192,777 shares of the company’s stock, valued at $57,946,838.43. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Zachary Kirkhorn sold 3,750 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $300.59, for a total transaction of $1,127,212.50. Following the sale, the chief financial officer now directly owns 192,777 shares of the company’s stock, valued at approximately $57,946,838.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Elon Musk sold 4,400,000 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $191.63, for a total transaction of $843,172,000.00. Following the sale, the chief executive officer now directly owns 445,617,432 shares in the company, valued at $85,393,668,494.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,119,001 shares of company stock valued at $2,874,560,178. 25.10% of the stock is owned by insiders.

Tesla Price Performance

NASDAQ:TSLA opened at $183.20 on Thursday. Tesla, Inc. has a one year low of $166.18 and a one year high of $402.67. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.46. The firm has a market cap of $578.50 billion, a price-to-earnings ratio of 56.60, a PEG ratio of 1.50 and a beta of 1.97. The firm’s fifty day moving average is $231.28 and its two-hundred day moving average is $249.33.

Tesla (NASDAQ:TSLAGet Rating) last posted its quarterly earnings results on Wednesday, October 19th. The electric vehicle producer reported $1.05 EPS for the quarter, beating the consensus estimate of $0.91 by $0.14. Tesla had a net margin of 14.95% and a return on equity of 31.10%. The company had revenue of $21.45 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same period in the prior year, the company earned $0.48 earnings per share. The firm’s revenue was up 55.9% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 3.61 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on Tesla from $280.00 to $230.00 and set an “equal weight” rating for the company in a research report on Friday, October 14th. Citigroup upgraded Tesla from a “sell” rating to a “neutral” rating and boosted their price target for the company from $141.33 to $176.00 in a report on Wednesday. Piper Sandler lowered their price target on Tesla from $360.00 to $340.00 and set an “overweight” rating for the company in a report on Thursday, September 29th. Roth Capital boosted their price target on Tesla from $83.33 to $85.00 and gave the company a “neutral” rating in a report on Thursday, October 20th. Finally, Truist Financial boosted their price target on Tesla from $333.00 to $348.00 and gave the company a “buy” rating in a report on Monday, October 3rd. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $278.43.

About Tesla

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLAGet Rating).

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.