Canopy Partners LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Canopy Partners LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 2.4% in the 3rd quarter, Holdings Channel reports. The fund owned 3,666 shares of the electric vehicle producer’s stock after acquiring an additional 85 shares during the period. Canopy Partners LLC’s holdings in Tesla were worth $959,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Connable Office Inc. raised its position in Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares in the last quarter. Holistic Financial Partners grew its stake in shares of Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after purchasing an additional 40 shares during the period. Integris Wealth Management LLC increased its holdings in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its stake in shares of Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares during the period. Finally, Altman Advisors Inc. boosted its holdings in Tesla by 0.4% during the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSLA. Guggenheim increased their target price on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a report on Thursday, October 24th. Stifel Nicolaus lifted their price objective on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price target on shares of Tesla in a research note on Wednesday, October 23rd. Finally, HSBC reiterated a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $230.18.

Tesla Stock Performance

NASDAQ:TSLA opened at $352.56 on Friday. The company has a market cap of $1.13 trillion, a P/E ratio of 96.59, a P/E/G ratio of 11.03 and a beta of 2.29. The firm’s 50 day moving average is $264.07 and its two-hundred day moving average is $226.09. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.53. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its 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. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the company posted $0.53 EPS. The business’s quarterly revenue 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 Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock worth $92,956,692 in the last three months. 20.70% of the stock is currently owned by company insiders.

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.