Iron Gate Global Advisors LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Iron Gate Global Advisors LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 24.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,831 shares of the electric vehicle producer’s stock after acquiring an additional 364 shares during the quarter. Iron Gate Global Advisors LLC’s holdings in Tesla were worth $479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the 3rd quarter worth approximately $29,000. Clean Yield Group boosted its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the second quarter worth approximately $26,000. Finally, Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TSLA. The Goldman Sachs Group lifted their price target on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research note on Monday, November 18th. UBS Group increased their price target on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday, November 25th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $380.00 in a research report on Monday. Nine investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $243.75.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, 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 position. 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 over the last three months. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $357.09 on Tuesday. The firm has a market capitalization of $1.15 trillion, a PE ratio of 97.83, a PEG ratio of 11.21 and a beta of 2.36. The business’s 50 day moving average is $274.55 and its 200-day moving average is $232.59. 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 $361.93.

Tesla (NASDAQ:TSLA) last posted 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 return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.