MCIA Inc Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

MCIA Inc increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 31,989 shares of the electric vehicle producer’s stock after purchasing an additional 141 shares during the period. Tesla makes up about 1.9% of MCIA Inc’s investment portfolio, making the stock its 9th largest position. MCIA Inc’s holdings in Tesla were worth $8,369,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. FMR LLC boosted its stake in Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after buying an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after buying an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after buying an additional 301,968 shares during the period. Jennison Associates LLC boosted its stake in Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares during the period. Finally, 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. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA opened at $389.22 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $389.49. 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 $1.25 trillion, a P/E ratio of 106.64, a price-to-earnings-growth ratio of 11.62 and a beta of 2.36. The firm’s 50-day moving average price is $282.96 and its 200-day moving average price is $236.89.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $30,095,100. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 520,280 shares of company stock worth $170,418,640 over the last quarter. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TSLA shares. Bank of America boosted their target price on shares of Tesla from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and boosted their target price for the company from $85.00 to $380.00 in a research note on Monday, December 2nd. Finally, Truist Financial boosted their target price on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $245.84.

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.