Algert Global LLC Acquires Shares of 12,207 Tesla, Inc. (NASDAQ:TSLA)

Algert Global LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,207 shares of the electric vehicle producer’s stock, valued at approximately $3,194,000.

Several other large investors have also made changes to their positions in the company. Connable Office Inc. boosted its stake in shares of Tesla by 0.3% in 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 last quarter. Holistic Financial Partners lifted its holdings in Tesla by 1.0% in 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 boosted 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 valued at $804,000 after acquiring an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc grew its holdings in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares during the period. Finally, Altman Advisors Inc. raised its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock valued at $92,956,692 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Down 4.0 %

Shares of Tesla stock opened at $338.59 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. 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 P/E ratio of 92.76, a PEG ratio of 11.45 and a beta of 2.29. The company’s fifty day simple moving average is $266.31 and its two-hundred day simple moving average is $227.97.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. Research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on TSLA shares. Wells Fargo & Company lifted their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. Canaccord Genuity Group upped 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. Finally, StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $231.06.

About Tesla

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.