Tesla, Inc. (NASDAQ:TSLA) Stake Boosted by Sitrin Capital Management LLC

Sitrin Capital Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 16.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,124 shares of the electric vehicle producer’s stock after purchasing an additional 450 shares during the period. Sitrin Capital Management LLC’s holdings in Tesla were worth $817,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank & Trust Co acquired a new position in Tesla during the 2nd quarter worth $25,000. Clean Yield Group lifted its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Valley Wealth Managers Inc. acquired a new stake in Tesla in the 2nd quarter valued at approximately $26,000. Finally, M&R Capital Management Inc. increased its position in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a report on Friday, October 25th. Truist Financial boosted their price target on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Wolfe Research began coverage on Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, HSBC reiterated a “reduce” rating and set a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Eight 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. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $219.45.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla 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 of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’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 of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,297 shares of company stock worth $3,065,866. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Up 0.6 %

Shares of NASDAQ:TSLA traded up $1.58 during trading on Friday, hitting $251.43. 18,358,553 shares of the company’s stock traded hands, compared to its average volume of 93,994,094. 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 company has a 50-day moving average price of $233.56 and a 200-day moving average price of $209.78. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.54. The company has a market cap of $807.11 billion, a price-to-earnings ratio of 69.00, a price-to-earnings-growth ratio of 8.49 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 (EPS) for the quarter, topping the consensus estimate 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%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Tesla Company 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.