Belmont Capital LLC Purchases 9,165 Shares of Tesla, Inc. (NASDAQ:TSLA)

Belmont Capital LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 46.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 29,068 shares of the electric vehicle producer’s stock after acquiring an additional 9,165 shares during the quarter. Tesla makes up about 1.3% of Belmont Capital LLC’s portfolio, making the stock its 13th biggest position. Belmont Capital LLC’s holdings in Tesla were worth $7,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP grew its stake 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 acquiring an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Tesla by 236.8% in the second 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 during the period. Finally, Swedbank AB bought a new position in Tesla in the first quarter worth approximately $187,775,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $338.74 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 92.81, a PEG ratio of 10.42 and a beta of 2.29. The firm’s 50 day simple moving average is $254.75 and its 200-day simple moving average is $222.13. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated 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 directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,797 shares of company stock valued at $57,616,781. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TSLA shares. Wedbush reissued an “outperform” rating and set a $400.00 price target on shares of Tesla in a research report on Monday. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Roth Mkm reissued a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. Finally, Guggenheim increased 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. Nine 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 stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $230.18.

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.