International Assets Investment Management LLC Has $2.89 Billion Stake in Tesla, Inc. (NASDAQ:TSLA)

International Assets Investment Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 35,611.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 11,054,391 shares of the electric vehicle producer’s stock after purchasing an additional 11,023,436 shares during the period. International Assets Investment Management LLC owned about 0.35% of Tesla worth $2,892,160,000 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. Clean Energy Transition LLP lifted its position in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Tesla by 21,816.0% during 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 in the last quarter. Vanguard Group Inc. raised its holdings 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 purchasing an additional 3,795,748 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after purchasing an additional 1,479,378 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TSLA. William Blair began coverage on shares of Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a report on Friday, July 5th. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Royal Bank of Canada raised their target price on shares of Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Piper Sandler raised their target price on shares of Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $211.63.

Tesla Stock Down 2.0 %

TSLA stock opened at $213.65 on Thursday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a market cap of $682.53 billion, a P/E ratio of 60.01, a PEG ratio of 6.24 and a beta of 2.29. The business’s 50-day moving average price is $228.54 and its 200-day moving average price is $206.41.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is owned by corporate insiders.

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.