Fmr LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Fmr LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,741,075 shares of the electric vehicle producer’s stock after purchasing an additional 828,308 shares during the period. Fmr LLC’s holdings in Tesla were worth $6,473,008,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Connable Office Inc. increased its position in Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares during the period. Holistic Financial Partners increased its position in shares of Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares during the period. Integris Wealth Management LLC raised its stake in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after buying an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its holdings in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the period. Finally, Altman Advisors Inc. boosted its position in Tesla by 0.4% during the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after acquiring an additional 43 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TSLA shares. HSBC reissued a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Wolfe Research assumed coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. The Goldman Sachs Group upped their target price on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Truist Financial lifted their price target on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Nine 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. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $231.06.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’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 owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 over the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

TSLA opened at $338.59 on Tuesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $361.93. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 92.76, a PEG ratio of 11.45 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $266.31 and its 200 day moving average is $227.97.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

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.