Jennison Associates LLC Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Jennison Associates LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 200.2% during the third quarter, HoldingsChannel reports. The firm owned 29,557,607 shares of the electric vehicle producer’s stock after purchasing an additional 19,711,687 shares during the period. Tesla accounts for about 7.8% of Jennison Associates LLC’s holdings, making the stock its largest position. Jennison Associates LLC’s holdings in Tesla were worth $7,840,155,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Cranbrook Wealth Management LLC grew its holdings in Tesla by 224.1% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 65 shares in the last quarter. Coston McIsaac & Partners boosted its holdings in shares of Tesla by 200.0% in the 3rd quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 64 shares in the last quarter. TFO TDC LLC bought a new stake in shares of Tesla in the 2nd quarter valued at about $27,000. Horan Securities Inc. boosted its holdings in shares of Tesla by 164.3% in the 2nd 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. Finally, West Oak Capital LLC bought a new stake in shares of Tesla in the 3rd quarter valued at about $27,000. 43.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, October 27th. The shares were 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 SEC, which is available at the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction on Thursday, October 27th. The shares were 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 SEC, which is available at the SEC website. Also, CEO Elon Musk sold 9,650,000 shares of Tesla stock in a transaction on Friday, November 4th. The stock was sold at an average price of $208.58, for a total transaction of $2,012,797,000.00. Following the sale, the chief executive officer now directly owns 455,467,432 shares in the company, valued at approximately $95,001,396,966.56. The disclosure for this sale can be found here. Insiders have sold a total of 24,172,833 shares of company stock valued at $4,492,567,309 in the last 90 days. 25.10% of the stock is owned by insiders.

Tesla Price Performance

Tesla stock opened at $133.42 on Friday. The company’s fifty day moving average price is $150.72 and its 200 day moving average price is $221.94. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $384.29. The stock has a market capitalization of $421.31 billion, a P/E ratio of 41.22, a P/E/G ratio of 1.06 and a beta of 2.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.46.

Tesla (NASDAQ:TSLAGet Rating) last released its quarterly earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. Tesla had a net margin of 14.95% and a return on equity of 31.10%. The firm had revenue of $21.45 billion for the quarter, compared to analysts’ expectations of $21.96 billion. During the same quarter last year, the company earned $0.48 EPS. The firm’s revenue for the quarter was up 55.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla, Inc. will post 3.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Tesla from $350.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, January 17th. Bank of America lowered their price target on shares of Tesla from $135.00 to $130.00 and set a “neutral” rating on the stock in a report on Tuesday, January 17th. Roth Capital raised their price target on shares of Tesla from $83.33 to $85.00 and gave the company a “neutral” rating in a report on Thursday, October 20th. Citigroup lowered their price target on shares of Tesla from $176.00 to $140.00 and set a “neutral” rating on the stock in a report on Friday, January 13th. Finally, Cowen decreased their price objective on shares of Tesla from $244.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 20th. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $218.29.

Tesla 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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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