989 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Edgewood Management LLC

Edgewood Management LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 989 shares of the electric vehicle producer’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its stake in shares of Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after buying an additional 1,741 shares during the last quarter. Tyler Stone Wealth Management boosted its stake in Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after purchasing an additional 4,929 shares during the last quarter. Savvy Advisors Inc. boosted its stake in Tesla by 24.2% during the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after purchasing an additional 1,467 shares during the last quarter. ICICI Prudential Asset Management Co Ltd boosted its stake in Tesla by 19.0% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock valued at $6,394,000 after purchasing an additional 3,909 shares during the last quarter. Finally, West Family Investments Inc. boosted its stake in Tesla by 20.8% during the 3rd quarter. West Family Investments Inc. now owns 9,026 shares of the electric vehicle producer’s stock valued at $2,361,000 after purchasing an additional 1,556 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Argus reiterated a “buy” rating and set a $286.00 target price on shares of Tesla in a research note on Friday, July 26th. Morgan Stanley reissued an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. Guggenheim increased their price target on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a report on Thursday, October 24th. Finally, Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $230.18.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock valued at $92,956,692 over the last ninety days. 20.70% of the stock is owned by insiders.

Tesla Trading Down 0.5 %

Shares of TSLA stock opened at $340.17 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average price is $261.63 and its 200-day moving average price is $224.93. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 93.20, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping 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 company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal 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.