Equitable Trust Co. Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Equitable Trust Co. boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 78.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,950 shares of the electric vehicle producer’s stock after purchasing an additional 3,943 shares during the period. Equitable Trust Co.’s holdings in Tesla were worth $2,342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Principal Financial Group Inc. raised its holdings in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after buying an additional 194,796 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after acquiring an additional 206,248 shares during the period. AIA Group Ltd raised its stake in shares of Tesla by 10.1% during the third quarter. AIA Group Ltd now owns 83,374 shares of the electric vehicle producer’s stock valued at $21,813,000 after acquiring an additional 7,655 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its holdings in shares of Tesla by 6.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock worth $11,349,000 after purchasing an additional 2,664 shares during the period. Finally, Morse Asset Management Inc increased its holdings in Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 8.2 %

TSLA opened at $321.22 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $328.71. 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 firm has a 50 day moving average price of $241.18 and a 200-day moving average price of $214.90. The stock has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 88.01, a PEG ratio of 9.51 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the firm earned $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,797 shares of company stock valued at $19,211,821. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wolfe Research initiated coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Argus reissued a “buy” rating and set a $286.00 price objective on shares of Tesla in a research report on Friday, July 26th. Wedbush restated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Thursday, October 24th. Canaccord Genuity Group lifted their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Eight research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $222.03.

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.