Lane & Associates LLC Invests $303,000 in Tesla, Inc. (NASDAQ:TSLA)

Lane & Associates LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,158 shares of the electric vehicle producer’s stock, valued at approximately $303,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Algert Global LLC purchased a new stake in Tesla during the 3rd quarter valued at about $3,194,000. Canopy Partners LLC grew its position in Tesla by 2.4% during the 3rd quarter. Canopy Partners LLC now owns 3,666 shares of the electric vehicle producer’s stock valued at $959,000 after purchasing an additional 85 shares during the last quarter. Cerity Partners LLC grew its position in Tesla by 29.8% during the 3rd quarter. Cerity Partners LLC now owns 388,135 shares of the electric vehicle producer’s stock valued at $101,548,000 after purchasing an additional 89,152 shares during the last quarter. Optivise Advisory Services LLC purchased a new stake in Tesla during the 3rd quarter valued at about $540,000. Finally, Nicolet Advisory Services LLC grew its position in Tesla by 3.3% during the 3rd quarter. Nicolet Advisory Services LLC now owns 9,044 shares of the electric vehicle producer’s stock valued at $2,177,000 after purchasing an additional 286 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated 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 transaction, the chief financial officer now owns 105,032 shares in the company, valued at $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla 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 owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock worth $92,956,692 over the last quarter. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TSLA. Royal Bank of Canada upped their target price on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Canaccord Genuity Group upped their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Wedbush restated an “outperform” rating and set a $400.00 target price on shares of Tesla in a research note on Monday, November 18th. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. Finally, Guggenheim upped their target price on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $230.18.

Tesla Stock Performance

TSLA stock opened at $352.56 on Friday. 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 business has a 50-day moving average price of $264.07 and a 200 day moving average price of $226.43. The company has a market capitalization of $1.13 trillion, a P/E ratio of 96.59, a PEG ratio of 11.03 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.53.

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 the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

About Tesla

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.