Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Spinnaker Trust

Spinnaker Trust boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 44.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,975 shares of the electric vehicle producer’s stock after purchasing an additional 1,223 shares during the period. Spinnaker Trust’s holdings in Tesla were worth $1,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares during the last quarter. International Assets Investment Management LLC grew its stake in Tesla by 35,611.2% in 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 purchasing an additional 11,023,436 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC increased its holdings 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 buying an additional 135,966 shares during the last quarter. Finally, National Pension Service raised its stake in Tesla by 15.3% during 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 buying an additional 688,717 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $29.57 during midday trading on Wednesday, hitting $281.01. The company’s stock had a trading volume of 82,392,016 shares, compared to its average volume of 93,890,250. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $289.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $902.06 billion, a price-to-earnings ratio of 76.99, a PEG ratio of 8.01 and a beta of 2.29. The stock’s 50 day simple moving average is $235.57 and its 200 day simple moving average is $212.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Tesla, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TSLA shares. Canaccord Genuity Group upped their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays increased their target price on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Royal Bank of Canada boosted their price objective on shares of Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Citigroup cut their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $219.45.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock worth $19,211,821 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

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.