Bamco Inc. NY Has $3.91 Billion Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Bamco Inc. NY decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,928,529 shares of the electric vehicle producer’s stock after selling 587,907 shares during the quarter. Tesla makes up 10.4% of Bamco Inc. NY’s investment portfolio, making the stock its biggest holding. Bamco Inc. NY owned approximately 0.47% of Tesla worth $3,905,751,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Transcendent Capital Group LLC acquired a new stake in Tesla during the third quarter worth approximately $29,000. Bank & Trust Co acquired a new stake in shares of Tesla during the 2nd quarter worth approximately $25,000. Clean Yield Group increased its stake in shares of Tesla by 60.0% in the 3rd 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 position in shares of Tesla by 168.8% during the 2nd 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 period. Finally, Valley Wealth Managers Inc. bought a new position in Tesla during the second quarter worth $26,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 3.7 %

Shares of TSLA opened at $345.16 on Monday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.93. The business has a 50-day moving average of $274.55 and a 200 day moving average of $232.59. The firm has a market cap of $1.11 trillion, a P/E ratio of 94.56, a price-to-earnings-growth ratio of 11.21 and a beta of 2.29. 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 (NASDAQ:TSLA) last posted 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. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.53 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler upped their price objective on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $231.06.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated 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 sale, the director now directly owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock valued at $92,956,692 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

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.