Americana Partners LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Americana Partners LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,589 shares of the electric vehicle producer’s stock after buying an additional 491 shares during the quarter. Americana Partners LLC’s holdings in Tesla were worth $939,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its holdings in Tesla by 0.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after purchasing an additional 331 shares during the last quarter. Palisade Asset Management LLC acquired a new stake in shares of Tesla during the first quarter worth approximately $128,000. Moloney Securities Asset Management LLC increased its stake in shares of Tesla by 505.0% in the first quarter. Moloney Securities Asset Management LLC now owns 5,887 shares of the electric vehicle producer’s stock worth $1,035,000 after buying an additional 4,914 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Tesla by 9.8% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 71,857 shares of the electric vehicle producer’s stock valued at $12,632,000 after acquiring an additional 6,393 shares in the last quarter. Finally, CNB Bank boosted its stake in Tesla by 3.9% during the 1st quarter. CNB Bank now owns 7,212 shares of the electric vehicle producer’s stock valued at $1,268,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other 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 on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,297 shares of company stock worth $3,065,866. 20.70% of the stock is owned by insiders.

Tesla Trading Down 0.3 %

Shares of Tesla stock opened at $248.98 on Friday. The business has a fifty day simple moving average of $234.14 and a 200-day simple moving average of $210.39. The firm has a market cap of $799.24 billion, a price-to-earnings ratio of 68.21, a price-to-earnings-growth ratio of 8.24 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $273.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the firm posted $0.53 EPS. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Bank of America boosted their target price on shares of Tesla from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada upped their price objective on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research report on Wednesday, July 24th. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research report on Friday, July 5th. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. Eight investment 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 stock has an average rating of “Hold” and an average price target of $219.45.

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.