Vestcor Inc Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Vestcor Inc lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,939 shares of the electric vehicle producer’s stock after purchasing an additional 551 shares during the period. Vestcor Inc’s holdings in Tesla were worth $14,635,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Tesla by 3.5% in the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after buying an additional 828,308 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock worth $6,377,970,000 after acquiring an additional 2,946,763 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after acquiring an additional 301,968 shares during the period. Jennison Associates LLC lifted its holdings in Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after purchasing an additional 1,294,093 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of 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 purchasing an additional 11,023,436 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of analyst reports. Barclays lifted their target price on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. William Blair initiated coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Bank of America increased their target price on Tesla from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Morgan Stanley restated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $295.00 to $370.00 and gave the company a “buy” rating in a research report on Monday. Nine research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $248.12.

Tesla Trading Up 0.1 %

Shares of NASDAQ TSLA opened at $389.79 on Tuesday. The business’s 50 day moving average price is $288.09 and its 200-day moving average price is $240.67. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $404.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market cap of $1.25 trillion, a price-to-earnings ratio of 106.79, a PEG ratio of 12.64 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last released 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 business 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 business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 522,886 shares of company stock worth $171,393,831 in the last three months. Corporate insiders own 20.70% of the company’s stock.

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.