Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Drive Wealth Management LLC

Drive Wealth Management LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 13.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,389 shares of the electric vehicle producer’s stock after purchasing an additional 970 shares during the period. Tesla makes up 0.6% of Drive Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Drive Wealth Management LLC’s holdings in Tesla were worth $2,195,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TSLA. International Assets Investment Management LLC boosted its stake in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares during the period. Swiss National Bank boosted its position in shares of Tesla by 0.4% during the 3rd quarter. Swiss National Bank now owns 8,519,675 shares of the electric vehicle producer’s stock worth $2,229,003,000 after purchasing an additional 33,100 shares during the period. Strategic Financial Concepts LLC increased its holdings in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC raised its position in Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after purchasing an additional 135,966 shares during the period. Finally, National Pension Service raised its position in Tesla by 15.3% in the third quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock valued at $1,355,939,000 after purchasing an additional 688,717 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock worth $57,616,781 over the last three months. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research note on Wednesday, October 23rd. Canaccord Genuity Group lifted their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Stifel Nicolaus increased their price target on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, HSBC reiterated a “reduce” rating and set a $124.00 target price on shares of Tesla in a report on Friday, October 11th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Stock Up 3.1 %

TSLA opened at $320.72 on Monday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The business has a 50 day moving average price of $252.30 and a two-hundred day moving average price of $221.01. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.03 trillion, a PE ratio of 87.87, a P/E/G ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during 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%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

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.