STF Management LP Has $7 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

STF Management LP cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,744 shares of the electric vehicle producer’s stock after selling 2,998 shares during the period. Tesla makes up approximately 3.1% of STF Management LP’s investment portfolio, making the stock its 7th biggest position. STF Management LP’s holdings in Tesla were worth $6,997,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after acquiring an additional 301,968 shares in the last quarter. Jennison Associates LLC boosted its holdings in Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares in the last quarter. Swiss National Bank boosted its holdings in Tesla by 0.4% during the third quarter. Swiss National Bank now owns 8,519,675 shares of the electric vehicle producer’s stock worth $2,229,003,000 after buying an additional 33,100 shares in the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 301,187 shares of company stock worth $92,956,692. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on TSLA shares. Guggenheim raised their target price on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Argus restated a “buy” rating and set a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Truist Financial raised their target price on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $230.18.

Tesla Price Performance

Shares of Tesla stock opened at $340.17 on Friday. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 93.20, a PEG ratio of 11.24 and a beta of 2.29. 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 1-year low of $138.80 and a 1-year high of $358.64. The firm has a fifty day simple moving average of $261.63 and a 200-day simple moving average of $224.93.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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 company 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 company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 1.99 earnings per share 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.