Prospera Financial Services Inc Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Prospera Financial Services Inc boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 78.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 57,369 shares of the electric vehicle producer’s stock after buying an additional 25,188 shares during the period. Prospera Financial Services Inc’s holdings in Tesla were worth $15,009,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in 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 buying an additional 11,023,436 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Tesla by 0.4% in the 3rd quarter. Swiss National Bank now owns 8,519,675 shares of the electric vehicle producer’s stock worth $2,229,003,000 after acquiring an additional 33,100 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. ARK Investment Management LLC grew its holdings in Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after purchasing an additional 135,966 shares during the last quarter. Finally, National Pension Service raised its position in Tesla by 15.3% in the 3rd quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock worth $1,355,939,000 after purchasing an additional 688,717 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on TSLA. Canaccord Genuity Group boosted their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Barclays boosted their price target on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research report on Wednesday, July 24th. Wells Fargo & Company boosted their price target on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $230.18.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $338.74 on Tuesday. 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 company has a 50-day moving average price of $254.75 and a 200 day moving average price of $222.13. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The company has a market cap of $1.09 trillion, a P/E ratio of 92.81, a PEG ratio of 10.42 and a beta of 2.29.

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, beating analysts’ consensus estimates 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 the consensus estimate of $25.47 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 8,000 shares of the 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 transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $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 188,797 shares of company stock worth $57,616,781 in the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla 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.