Polymer Capital Management HK LTD Purchases 8,300 Shares of Tesla, Inc. (NASDAQ:TSLA)

Polymer Capital Management HK LTD boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 109.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 15,900 shares of the electric vehicle producer’s stock after acquiring an additional 8,300 shares during the period. Polymer Capital Management HK LTD’s holdings in Tesla were worth $4,160,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mission Creek Capital Partners Inc. raised its holdings in Tesla by 18.9% during the 3rd quarter. Mission Creek Capital Partners Inc. now owns 2,202 shares of the electric vehicle producer’s stock valued at $576,000 after acquiring an additional 350 shares during the period. Morse Asset Management Inc lifted its holdings in Tesla by 46.8% during the 3rd quarter. Morse Asset Management Inc now owns 8,762 shares of the electric vehicle producer’s stock worth $2,292,000 after purchasing an additional 2,793 shares in the last quarter. Motley Fool Asset Management LLC boosted its stake in Tesla by 3.8% in the 3rd quarter. Motley Fool Asset Management LLC now owns 128,569 shares of the electric vehicle producer’s stock worth $33,173,000 after purchasing an additional 4,751 shares during the period. IHT Wealth Management LLC increased its position in shares of Tesla by 12.3% during the third quarter. IHT Wealth Management LLC now owns 42,640 shares of the electric vehicle producer’s stock valued at $11,110,000 after buying an additional 4,663 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Tesla by 9.4% in the third quarter. Integrated Wealth Concepts LLC now owns 90,300 shares of the electric vehicle producer’s stock worth $23,625,000 after buying an additional 7,791 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.6 %

Shares of Tesla stock opened at $351.42 on Wednesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93. The firm has a market cap of $1.13 trillion, a price-to-earnings ratio of 96.28, a PEG ratio of 11.60 and a beta of 2.36. The company has a 50-day moving average of $278.63 and a 200 day moving average of $235.10. 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 (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock valued at $92,956,692 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on TSLA. Roth Capital upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday. HSBC restated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Piper Sandler upped their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada raised their price objective on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Nine investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $243.75.

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.