Monolith Management Ltd Invests $22.11 Million in Tesla, Inc. (NASDAQ:TSLA)

Monolith Management Ltd purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 84,500 shares of the electric vehicle producer’s stock, valued at approximately $22,108,000. Tesla makes up 12.9% of Monolith Management Ltd’s investment portfolio, making the stock its 2nd largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its stake in Tesla by 35,611.2% in the third 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 buying an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP lifted its holdings in shares of Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after acquiring an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of 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 valued at $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Tesla by 11.9% in 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 purchasing an additional 1,294,093 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on TSLA shares. Wells Fargo & Company lifted their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Barclays boosted their price objective on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Royal Bank of Canada raised their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Wolfe Research started coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, Guggenheim raised their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Nine investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $230.18.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were 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 $14,967,479.07. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’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 transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 301,187 shares of company stock worth $92,956,692. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $352.56 on Monday. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 96.59, a PEG ratio of 11.45 and a beta of 2.29. 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, Inc. has a 1 year low of $138.80 and a 1 year high of $361.53. The firm’s 50-day moving average is $264.07 and its 200 day moving average is $226.79.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal 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.