Belmont Capital LLC Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Belmont Capital LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 46.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,068 shares of the electric vehicle producer’s stock after purchasing an additional 9,165 shares during the quarter. Tesla comprises about 1.3% of Belmont Capital LLC’s holdings, making the stock its 13th biggest holding. Belmont Capital LLC’s holdings in Tesla were worth $7,605,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank & Trust Co bought a new stake in shares of Tesla during the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in shares of Tesla during the third quarter valued at approximately $29,000. Finally, Clean Yield Group boosted its position in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. HSBC reiterated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. Royal Bank of Canada increased their price objective on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. Barclays increased their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Piper Sandler boosted their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Nine 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $230.18.

Tesla Price Performance

TSLA stock opened at $338.74 on Tuesday. 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’s fifty day moving average price is $254.75 and its 200-day moving average price is $222.13. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The company has a market capitalization of $1.09 trillion, a PE ratio of 92.81, a price-to-earnings-growth ratio of 10.42 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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,797 shares of company stock worth $57,616,781 in the last quarter. 20.70% of the stock is owned by corporate insiders.

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.