Quantbot Technologies LP Acquires Shares of 2,626 Tesla, Inc. (NASDAQ:TSLA)

Quantbot Technologies LP acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,626 shares of the electric vehicle producer’s stock, valued at approximately $687,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Valley Wealth Managers Inc. acquired a new stake in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter worth $29,000. Clean Yield Group increased its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Finally, Peterson Financial Group Inc. bought a new stake in Tesla in the 3rd quarter valued at $35,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $357.09 on Tuesday. The stock’s 50-day simple moving average is $274.55 and its 200 day simple moving average is $232.59. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $361.93. 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 $1.15 trillion, a P/E ratio of 97.83, a P/E/G ratio of 11.21 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The company 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 revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on 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 directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was 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 in the last ninety days. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on TSLA. UBS Group raised their target price on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. William Blair initiated coverage on shares of Tesla in a research note on Thursday, August 29th. They set an “outperform” rating for the company. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Finally, StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $243.75.

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.