Assetmark Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 195.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,159 shares of the electric vehicle producer’s stock after purchasing an additional 41,088 shares during the period. Assetmark Inc.’s holdings in Tesla were worth $16,488,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. raised its holdings in shares of Tesla by 196.4% in the 3rd quarter. Baillie Gifford & Co. now owns 27,876,833 shares of the electric vehicle producer’s stock valued at $7,394,330,000 after purchasing an additional 18,472,529 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Tesla by 189.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,366,820 shares of the electric vehicle producer’s stock valued at $2,484,549,000 after acquiring an additional 6,125,732 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Tesla by 105.0% in the 3rd quarter. SG Americas Securities LLC now owns 105,194 shares of the electric vehicle producer’s stock valued at $27,903,000 after acquiring an additional 2,209,304 shares during the period. New York State Teachers Retirement System raised its position in shares of Tesla by 217.2% in the 3rd quarter. New York State Teachers Retirement System now owns 3,159,080 shares of the electric vehicle producer’s stock worth $837,946,000 after acquiring an additional 2,163,098 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Tesla by 10.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,233,086 shares of the electric vehicle producer’s stock worth $9,584,845,000 after purchasing an additional 1,317,687 shares during the last quarter. 43.00% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
TSLA has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Tesla from $348.00 to $299.00 and set a “buy” rating for the company in a research report on Tuesday, January 3rd. Royal Bank of Canada reduced their price target on Tesla from $225.00 to $186.00 in a research report on Tuesday, January 3rd. StockNews.com started coverage on Tesla in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Wolfe Research lowered their price target on Tesla from $360.00 to $288.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. Finally, Edward Jones upgraded shares of Tesla from a “hold” rating to a “buy” rating in a report on Thursday, January 5th. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $218.29.
Tesla Stock Performance
Tesla (NASDAQ:TSLA – Get Rating) last announced its earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. The company had revenue of $21.45 billion for the quarter, compared to analysts’ expectations of $21.96 billion. Tesla had a net margin of 14.95% and a return on equity of 31.10%. The firm’s quarterly revenue was up 55.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.48 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 3.6 EPS for the current fiscal year.
Insider Buying and Selling
In other Tesla news, CFO Zachary Kirkhorn sold 3,752 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total value of $410,131.12. Following the completion of the sale, the chief financial officer now owns 200,411 shares in the company, valued at approximately $21,906,926.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Zachary Kirkhorn sold 3,752 shares of the business’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total transaction of $410,131.12. Following the transaction, the chief financial officer now owns 200,411 shares of the company’s stock, valued at approximately $21,906,926.41. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated 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 $14,484,090.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,172,833 shares of company stock worth $4,492,567,309. 25.10% of the stock is owned by insiders.
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.
- Get a free copy of the StockNews.com research report on Tesla (TSLA)
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