Connable Office Inc. Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Connable Office Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,872 shares of the electric vehicle producer’s stock after buying an additional 38 shares during the quarter. Connable Office Inc.’s holdings in Tesla were worth $3,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its holdings in shares of Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares during the period. Tyler Stone Wealth Management grew its stake in shares of Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after buying an additional 4,929 shares during the period. Savvy Advisors Inc. raised its position in shares of Tesla by 24.2% in the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after buying an additional 1,467 shares during the period. ICICI Prudential Asset Management Co Ltd increased its stake in Tesla by 19.0% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock worth $6,394,000 after acquiring an additional 3,909 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after purchasing an additional 194,796 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 5.8 %

Shares of Tesla stock opened at $311.18 on Friday. 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 $358.64. The business’s fifty day moving average price is $248.48 and its two-hundred day moving average price is $218.94. The company has a market capitalization of $998.91 billion, a P/E ratio of 85.25, a PEG ratio of 10.73 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated 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 $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 188,797 shares of company stock worth $57,616,781 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wolfe Research started coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. Argus reissued a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research report on Friday, July 26th. William Blair assumed coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Piper Sandler increased their price target on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Wednesday, October 23rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $228.24.

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.