Oak Thistle LLC Invests $3.02 Million in Tesla, Inc. (NASDAQ:TSLA)

Oak Thistle LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,482 shares of the electric vehicle producer’s stock, valued at approximately $3,022,000. Tesla accounts for approximately 0.9% of Oak Thistle LLC’s holdings, making the stock its 5th biggest holding.

Other hedge funds have also bought and sold shares of the company. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in Tesla in the third quarter worth approximately $29,000. Clean Yield Group increased its holdings in shares of Tesla by 60.0% during 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 in the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Tesla during the third quarter worth approximately $35,000. Finally, M&R Capital Management Inc. grew its position in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the company’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 sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 621,886 shares of company stock worth $213,451,751 in the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $428.22 on Thursday. The firm’s 50 day moving average is $382.71 and its 200 day moving average is $284.69. The stock has a market capitalization of $1.37 trillion, a P/E ratio of 117.32, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $488.54. 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 (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for 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 quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research note on Thursday, October 24th. Canaccord Genuity Group increased their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Finally, Glj Research reissued a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Friday, January 3rd. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $299.33.

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.