Amica Retiree Medical Trust Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Amica Retiree Medical Trust lifted its stake in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 146.2% in the third quarter, HoldingsChannel reports. The firm owned 4,563 shares of the electric vehicle producer’s stock after acquiring an additional 2,710 shares during the quarter. Tesla makes up about 1.5% of Amica Retiree Medical Trust’s investment portfolio, making the stock its 14th biggest position. Amica Retiree Medical Trust’s holdings in Tesla were worth $1,210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. TFO TDC LLC acquired a new stake in Tesla in the second quarter valued at $27,000. Horan Securities Inc. raised its stake in Tesla by 164.3% in the second quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 23 shares in the last quarter. Verity Asset Management Inc. acquired a new stake in Tesla in the first quarter valued at $28,000. Norway Savings Bank raised its stake in Tesla by 200.0% in the third quarter. Norway Savings Bank now owns 105 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 70 shares in the last quarter. Finally, Triasima Portfolio Management inc. raised its stake in Tesla by 582.4% in the third quarter. Triasima Portfolio Management inc. now owns 116 shares of the electric vehicle producer’s stock valued at $31,000 after buying an additional 99 shares in the last quarter. 43.00% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA opened at $113.06 on Friday. The stock’s 50 day moving average is $166.62 and its two-hundred day moving average is $229.57. The firm has a market capitalization of $357.02 billion, a PE ratio of 34.93, a P/E/G ratio of 0.79 and a beta of 2.02. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $384.29.

Tesla (NASDAQ:TSLAGet Rating) last announced its quarterly earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. The business had revenue of $21.45 billion for the quarter, compared to analyst estimates of $21.96 billion. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The company’s quarterly revenue was up 55.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 EPS. Research analysts anticipate that Tesla, Inc. will post 3.6 earnings per share for the current year.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the sale, the senior vice president now owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the completion of the transaction, the senior vice president now directly owns 62,988 shares in the company, valued at approximately $14,484,090.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Elon Musk sold 4,400,000 shares of Tesla stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $191.63, for a total value of $843,172,000.00. Following the transaction, the chief executive officer now owns 445,617,432 shares of the company’s stock, valued at $85,393,668,494.16. The disclosure for this sale can be found here. Insiders have sold 24,172,833 shares of company stock valued at $4,492,567,309 in the last quarter. 25.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSLA. Wolfe Research cut their price target on Tesla from $360.00 to $288.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. Wedbush cut their target price on Tesla from $250.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, December 23rd. Truist Financial cut their target price on Tesla from $348.00 to $299.00 and set a “buy” rating on the stock in a research report on Tuesday. Global Equities Research reiterated a “buy” rating on shares of Tesla in a research report on Tuesday, November 8th. Finally, Evercore ISI cut their target price on Tesla from $300.00 to $200.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 20th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $236.14.

Tesla Company Profile

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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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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