Coastwise Capital Group LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Coastwise Capital Group LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,145 shares of the electric vehicle producer’s stock after buying an additional 562 shares during the quarter. Tesla makes up 1.5% of Coastwise Capital Group LLC’s holdings, making the stock its 14th largest holding. Coastwise Capital Group LLC’s holdings in Tesla were worth $1,869,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vinva Investment Management Ltd increased its position in Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after purchasing an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management increased its holdings in Tesla by 109.6% during the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after buying an additional 4,929 shares during the period. Fred Alger Management LLC raised its stake in Tesla by 187.0% in the third quarter. Fred Alger Management LLC now owns 725,282 shares of the electric vehicle producer’s stock worth $189,756,000 after buying an additional 472,565 shares in the last quarter. Finally, Savvy Advisors Inc. lifted its holdings in Tesla by 24.2% during the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after buying an additional 1,467 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on TSLA shares. Wedbush reissued an “outperform” rating and issued a $400.00 price target on shares of Tesla in a research report on Monday, November 18th. Jefferies Financial Group increased their price target on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Canaccord Genuity Group lifted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Piper Sandler increased their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, UBS Group raised their target price on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday, November 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $231.06.

Tesla Stock Up 3.7 %

Shares of TSLA opened at $345.16 on Monday. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 94.56, a PEG ratio of 11.21 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.93. The stock’s 50-day moving average price is $274.55 and its 200-day moving average price is $232.59. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, sell-side 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.