Assenagon Asset Management S.A. Acquires 856,862 Shares of Tesla, Inc. (NASDAQ:TSLA)

Assenagon Asset Management S.A. lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 85.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,861,829 shares of the electric vehicle producer’s stock after buying an additional 856,862 shares during the period. Tesla makes up approximately 0.9% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 17th biggest position. Assenagon Asset Management S.A. owned about 0.06% of Tesla worth $487,110,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. raised its holdings in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of 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 valued at $2,892,160,000 after buying an additional 11,023,436 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC raised its position in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. Finally, ARK Investment Management LLC raised its holdings 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 buying an additional 135,966 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Up 20.5 %

Shares of Tesla stock traded up $43.77 on Thursday, hitting $257.42. The stock had a trading volume of 132,534,247 shares, compared to its average volume of 93,992,914. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock’s 50-day simple moving average is $228.54 and its two-hundred day simple moving average is $206.41. The stock has a market cap of $822.36 billion, a price-to-earnings ratio of 71.61, a PEG ratio of 6.24 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 1.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSLA. Robert W. Baird restated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Citigroup lowered their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Wells Fargo & Company increased their price target on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday. Canaccord Genuity Group upped their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research report on Wednesday. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $218.09.

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.