West Tower Group LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

West Tower Group LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 81.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,000 shares of the electric vehicle producer’s stock after buying an additional 1,800 shares during the quarter. Tesla accounts for 2.2% of West Tower Group LLC’s portfolio, making the stock its 10th biggest holding. West Tower Group LLC’s holdings in Tesla were worth $1,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of Tesla by 35,611.2% during 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 buying an additional 11,023,436 shares during the period. Clean Energy Transition LLP lifted its holdings in shares of Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares during the period. 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% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Tesla by 11.9% during the 3rd 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 in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 7.08 % 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 worth $92,956,692 over the last ninety days. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Jefferies Financial Group raised their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Finally, UBS Group lifted their price target on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $231.06.

Tesla Trading Down 4.0 %

Tesla stock opened at $338.59 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a 50-day simple moving average of $266.31 and a 200 day simple moving average of $227.97. The stock has a market capitalization of $1.09 trillion, a P/E ratio of 92.76, a PEG ratio of 11.45 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.93.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $25.47 billion. During the same period in the previous year, the firm earned $0.53 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Analysts expect 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.