Bamco Inc. NY Has $3.91 Billion Stake in Tesla, Inc. (NASDAQ:TSLA)

Bamco Inc. NY trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the 3rd quarter, Holdings Channel reports. The firm owned 14,928,529 shares of the electric vehicle producer’s stock after selling 587,907 shares during the quarter. Tesla comprises approximately 10.4% of Bamco Inc. NY’s portfolio, making the stock its biggest holding. Bamco Inc. NY’s holdings in Tesla were worth $3,905,751,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Bank & Trust Co bought a new position in shares of Tesla during the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its stake 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 buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new position in Tesla during the third quarter valued at approximately $29,000. Finally, Clean Yield Group raised its stake 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 worth $33,000 after acquiring an additional 48 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays upped their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a report on Monday, November 18th. Jefferies Financial Group increased their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $231.06.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % 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, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by insiders.

Tesla Stock Up 3.7 %

Shares of Tesla stock opened at $345.16 on Monday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 94.56, a PEG ratio of 11.21 and a beta of 2.29. The company has a 50-day moving average of $274.55 and a 200 day moving average of $232.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $25.47 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal 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.