First Horizon Advisors Inc. Acquires 476 Shares of Tesla, Inc. (NASDAQ:TSLA)

First Horizon Advisors Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,340 shares of the electric vehicle producer’s stock after buying an additional 476 shares during the quarter. First Horizon Advisors Inc.’s holdings in Tesla were worth $3,229,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Jennison Associates LLC lifted 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 acquiring an additional 1,294,093 shares during the period. International Assets Investment Management LLC lifted its stake in Tesla by 35,611.2% in the 3rd 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 purchasing an additional 11,023,436 shares in the last quarter. Swiss National Bank raised its holdings in shares of Tesla by 0.4% in the 3rd quarter. Swiss National Bank now owns 8,519,675 shares of the electric vehicle producer’s stock valued at $2,229,003,000 after acquiring an additional 33,100 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in Tesla by 21,816.0% in the 2nd 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. Finally, ARK Investment Management LLC lifted its stake in Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Wolfe Research assumed coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Royal Bank of Canada boosted their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. Finally, KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $230.18.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $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. Insiders have sold a total of 301,187 shares of company stock valued at $92,956,692 over the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

TSLA stock opened at $342.03 on Thursday. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 93.71, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29. 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, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64. The business has a fifty day moving average of $259.42 and a two-hundred day moving average of $224.12.

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, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. As a group, research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

About Tesla

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.