Algert Global LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Algert Global LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 12,207 shares of the electric vehicle producer’s stock, valued at approximately $3,194,000.

Several other hedge funds have also recently bought and sold shares of the business. Oppenheimer & Co. Inc. boosted its holdings in shares of Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares during the period. Tyler Stone Wealth Management grew its holdings in shares of Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after acquiring an additional 4,929 shares in the last quarter. Savvy Advisors Inc. increased its stake in shares of Tesla by 24.2% in the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after acquiring an additional 1,467 shares during the last quarter. Blackhawk Capital Partners LLC. raised its holdings in shares of Tesla by 102.0% during the third quarter. Blackhawk Capital Partners LLC. now owns 5,598 shares of the electric vehicle producer’s stock worth $1,465,000 after acquiring an additional 2,827 shares in the last quarter. Finally, West Family Investments Inc. raised its holdings in shares of Tesla by 20.8% during the third quarter. West Family Investments Inc. now owns 9,026 shares of the electric vehicle producer’s stock worth $2,361,000 after acquiring an additional 1,556 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the 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 owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 301,187 shares of company stock valued at $92,956,692. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TSLA. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research note on Thursday, October 24th. Piper Sandler lifted their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. HSBC restated a “reduce” rating and set a $124.00 target price on shares of Tesla in a report on Friday, October 11th. Finally, Barclays upped their target price on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. 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. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $231.06.

Tesla Price Performance

Shares of TSLA stock opened at $338.59 on Tuesday. 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 stock’s fifty day simple moving average is $266.31 and its 200 day simple moving average is $227.97. Tesla, Inc. has a one year low of $138.80 and a one year high of $361.93. The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 92.76, a P/E/G ratio of 11.45 and a beta of 2.29.

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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.