Charles Schwab Investment Management Inc. Has $4.33 Billion Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Charles Schwab Investment Management Inc. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,545,824 shares of the electric vehicle producer’s stock after buying an additional 301,968 shares during the quarter. Tesla accounts for 0.8% of Charles Schwab Investment Management Inc.’s investment portfolio, making the stock its 21st biggest holding. Charles Schwab Investment Management Inc.’s holdings in Tesla were worth $4,328,884,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the 3rd quarter valued at $29,000. Bank & Trust Co acquired a new position in Tesla in the second quarter worth approximately $25,000. Clean Yield Group raised its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC lifted its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the 2nd quarter worth $26,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 301,187 shares of company stock worth $92,956,692. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Bank of America boosted their price target on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Guggenheim upped their price objective on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price target on shares of Tesla in a report on Wednesday, October 23rd. Canaccord Genuity Group increased their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Stock Performance

NASDAQ:TSLA opened at $339.67 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $358.64. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 93.71, a PEG ratio of 11.24 and a beta of 2.29. The stock has a fifty day moving average price of $259.42 and a 200-day moving average price of $224.12.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.