Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Lifted by Suvretta Capital Management LLC

Suvretta Capital Management LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 43.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 193,842 shares of the electric vehicle producer’s stock after purchasing an additional 58,929 shares during the period. Tesla comprises approximately 1.6% of Suvretta Capital Management LLC’s portfolio, making the stock its 20th largest holding. Suvretta Capital Management LLC’s holdings in Tesla were worth $50,715,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. FMR LLC lifted its position in shares of Tesla by 3.5% in the 3rd 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 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 buying an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Tesla by 1.9% in 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 buying an additional 301,968 shares during the last quarter. Jennison Associates LLC lifted its position in Tesla by 11.9% in the 3rd 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 during the last quarter. Finally, International Assets Investment Management LLC lifted its position in Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

TSLA stock opened at $332.89 on Friday. 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 stock has a market cap of $1.07 trillion, a P/E ratio of 91.20, a P/E/G ratio of 10.81 and a beta of 2.29. The firm has a 50 day simple moving average of $272.41 and a 200 day simple moving average of $230.60. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.93.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS 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 analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. Research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on TSLA. Wedbush reiterated an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Bank of America lifted their price objective on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company raised their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $231.06.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock worth $92,956,692 over the last ninety days. 20.70% of the stock is currently owned by insiders.

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.