Jennison Associates LLC Purchases 1,294,093 Shares of Tesla, Inc. (NASDAQ:TSLA)

Jennison Associates LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 11.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,201,212 shares of the electric vehicle producer’s stock after purchasing an additional 1,294,093 shares during the quarter. Tesla makes up about 2.0% of Jennison Associates LLC’s investment portfolio, making the stock its 11th largest holding. Jennison Associates LLC owned approximately 0.38% of Tesla worth $3,192,203,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. boosted its position in shares of Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares during the period. Tyler Stone Wealth Management boosted its position in shares of Tesla by 109.6% in the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after purchasing an additional 4,929 shares during the period. Savvy Advisors Inc. boosted its position in shares of 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 acquiring an additional 1,467 shares during the last quarter. ICICI Prudential Asset Management Co Ltd boosted its position in shares of Tesla by 19.0% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock worth $6,394,000 after acquiring an additional 3,909 shares during the last quarter. Finally, West Family Investments Inc. boosted its position in shares of Tesla by 20.8% during the third quarter. West Family Investments Inc. now owns 9,026 shares of the electric vehicle producer’s stock worth $2,361,000 after acquiring an additional 1,556 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 2.1 %

NASDAQ:TSLA opened at $346.00 on Wednesday. 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 twelve month low of $138.80 and a twelve month high of $358.64. The company’s 50 day moving average is $257.14 and its two-hundred day moving average is $223.29. The company has a market cap of $1.11 trillion, a PE ratio of 94.79, a P/E/G ratio of 10.42 and a beta of 2.29.

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

Insider Buying and Selling at Tesla

In related 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 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 $26,258,000. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,187 shares of company stock worth $92,956,692. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of a number of research reports. Wolfe Research initiated coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. William Blair initiated coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Argus reaffirmed a “buy” rating and set a $286.00 price target on shares of Tesla in a research note on Friday, July 26th. Finally, Guggenheim upped their price target on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $230.18.

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.