Vestcor Inc Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Vestcor Inc increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 55,939 shares of the electric vehicle producer’s stock after purchasing an additional 551 shares during the period. Vestcor Inc’s holdings in Tesla were worth $14,635,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC boosted its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in Tesla during the 3rd quarter worth approximately $29,000. Clean Yield Group increased its stake in 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 during the period. Finally, Peterson Financial Group Inc. bought a new stake in Tesla in the third quarter valued at approximately $35,000. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction 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 approximately $26,258,000. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 522,886 shares of company stock valued at $171,393,831. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TSLA shares. Royal Bank of Canada raised their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Canaccord Genuity Group increased their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Wedbush restated an “outperform” rating and set a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $248.12.

Tesla Price Performance

Shares of TSLA opened at $389.79 on Tuesday. The company has a market capitalization of $1.25 trillion, a P/E ratio of 106.79, a price-to-earnings-growth ratio of 12.64 and a beta of 2.36. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $404.80. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $288.09 and a 200 day moving average of $240.67.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.