Ascent Group LLC Acquires 1,083 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ascent Group LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,937 shares of the electric vehicle producer’s stock after purchasing an additional 1,083 shares during the quarter. Ascent Group LLC’s holdings in Tesla were worth $3,646,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TSLA. Benjamin Edwards Inc. raised its holdings in shares of Tesla by 95.6% during the third quarter. Benjamin Edwards Inc. now owns 41,766 shares of the electric vehicle producer’s stock worth $10,927,000 after acquiring an additional 20,418 shares during the period. Kestra Investment Management LLC bought a new position in Tesla during the 3rd quarter worth about $875,000. Alerus Financial NA raised its stake in shares of Tesla by 16.0% in the 3rd quarter. Alerus Financial NA now owns 45,922 shares of the electric vehicle producer’s stock valued at $12,015,000 after purchasing an additional 6,339 shares during the period. FSA Wealth Management LLC bought a new stake in shares of Tesla in the third quarter valued at about $3,674,000. Finally, Cobblestone Capital Advisors LLC NY bought a new stake in shares of Tesla in the third quarter valued at about $246,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’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 value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $345.16 on Monday. The stock’s fifty day moving average price is $274.55 and its two-hundred day moving average price is $232.59. The firm has a market cap of $1.11 trillion, a PE ratio of 94.56, a price-to-earnings-growth ratio of 11.21 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a one year low of $138.80 and a one year high of $361.93.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for 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 business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TSLA shares. Guggenheim lifted their target price on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th. UBS Group increased their target price on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a report on Monday, November 25th. Bank of America lifted their price target on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Finally, Royal Bank of Canada upped their target price on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $231.06.

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.