Tesla, Inc. (NASDAQ:TSLA) Stock Position Increased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,489 shares of the electric vehicle producer’s stock after buying an additional 384 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Tesla were worth $651,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Bank & Trust Co acquired a new stake in Tesla during the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in Tesla during the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Clean Yield Group lifted its position in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. boosted its position in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Down 0.2 %

NASDAQ:TSLA opened at $220.89 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a market cap of $705.66 billion, a PE ratio of 62.05, a PEG ratio of 5.94 and a beta of 2.29. The stock has a 50-day simple moving average of $227.25 and a 200 day simple moving average of $204.80.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the firm posted $0.78 EPS. Tesla’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 over the last quarter. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent analyst reports. Barclays decreased their price target on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Thursday. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research note on Wednesday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Finally, Mizuho raised their target price on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $210.72.

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.