Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Hollencrest Capital Management

Hollencrest Capital Management grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 63,454 shares of the electric vehicle producer’s stock after buying an additional 433 shares during the period. Tesla makes up approximately 0.7% of Hollencrest Capital Management’s investment portfolio, making the stock its 27th largest holding. Hollencrest Capital Management’s holdings in Tesla were worth $16,601,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares in the last quarter. Gladstone Institutional Advisory LLC raised its stake in shares of Tesla by 6.5% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock worth $11,349,000 after buying an additional 2,664 shares during the last quarter. Morse Asset Management Inc increased its holdings in Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after acquiring an additional 3,462 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of Tesla by 34.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after purchasing an additional 1,059 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 value 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock worth $19,211,821 over the last 90 days. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $18.21 during trading on Friday, hitting $315.12. The company had a trading volume of 71,432,641 shares, compared to its average volume of 94,276,422. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $319.44. The business’s 50-day moving average is $237.23 and its 200 day moving average is $213.07. The company has a market cap of $1.01 trillion, a P/E ratio of 86.17, a PEG ratio of 9.51 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last announced its earnings results 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. The business had revenue of $25.18 billion during 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%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. Equities research analysts predict that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent research reports. Citigroup dropped their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Piper Sandler raised their price target on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and increased their price target for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Finally, Stifel Nicolaus upped their target price on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Eight 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 stock has an average rating of “Hold” and an average price target of $222.03.

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.