Q3 Asset Management Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Q3 Asset Management acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,452 shares of the electric vehicle producer’s stock, valued at approximately $3,009,000. Tesla comprises 1.9% of Q3 Asset Management’s investment portfolio, making the stock its 16th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the third quarter worth about $29,000. Clean Yield Group lifted its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the 3rd quarter worth approximately $35,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Tesla by 692.6% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 214 shares of the electric vehicle producer’s stock valued at $56,000 after purchasing an additional 187 shares in the last quarter. Finally, Mendota Financial Group LLC acquired a new position in shares of Tesla in the 3rd quarter valued at $64,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 672,776 shares of company stock valued at $242,149,822. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent analyst reports. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Tesla in a report on Thursday, January 30th. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Mizuho reiterated an “outperform” rating and set a $515.00 target price on shares of Tesla in a research report on Thursday, January 30th. Finally, Wells Fargo & Company boosted their price target on shares of Tesla from $125.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $318.31.

Tesla Price Performance

Shares of TSLA opened at $378.17 on Thursday. The firm has a 50-day simple moving average of $406.20 and a two-hundred day simple moving average of $301.73. The stock has a market cap of $1.22 trillion, a PE ratio of 185.38, a P/E/G ratio of 6.79 and a beta of 2.34. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a net margin of 7.26% and a return on equity of 10.31%. As a group, analysts forecast that Tesla, Inc. will post 2.82 EPS for the current year.

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.