Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Crystal Rock Capital Management

Crystal Rock Capital Management increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,555 shares of the electric vehicle producer’s stock after purchasing an additional 1,650 shares during the period. Tesla accounts for approximately 1.5% of Crystal Rock Capital Management’s portfolio, making the stock its 22nd largest position. Crystal Rock Capital Management’s holdings in Tesla were worth $2,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in Tesla in the third quarter valued at $29,000. Bank & Trust Co purchased a new stake in Tesla in the second quarter valued at $25,000. Clean Yield Group lifted its position 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 last quarter. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Tesla in the second quarter valued at about $26,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 9.0 %

Shares of NASDAQ TSLA opened at $350.00 on Tuesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64. The firm’s 50 day moving average price is $243.90 and its 200 day moving average price is $217.03. The firm has a market cap of $1.12 trillion, a P/E ratio of 95.89, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

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 analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Kimbal Musk sold 60,500 shares of the company’s 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 completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,442,856.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock worth $19,211,821 in the last ninety days. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on TSLA. HSBC reaffirmed a “reduce” rating and issued a $124.00 target price on shares of Tesla in a report on Friday, October 11th. Piper Sandler upped their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. The Goldman Sachs Group upped their target price on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Argus reaffirmed a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Finally, Canaccord Genuity Group increased their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $225.06.

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.