Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 49.0% in the third quarter, HoldingsChannel reports. The firm owned 162,735 shares of the electric vehicle producer’s stock after acquiring an additional 53,492 shares during the quarter. Tesla accounts for 2.5% of Harvest Fund Management Co. Ltd’s portfolio, making the stock its 9th biggest position. Harvest Fund Management Co. Ltd’s holdings in Tesla were worth $42,567,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Transcendent Capital Group LLC acquired a new stake in Tesla during the third quarter worth about $29,000. Bank & Trust Co acquired a new position in Tesla in the second quarter valued at approximately $25,000. Clean Yield Group boosted its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the 2nd quarter valued at $26,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $36,761,200. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock worth $92,956,692 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TSLA shares. Roth Mkm restated a “neutral” rating and set a $85.00 price target on shares of Tesla in a research report on Friday, October 11th. Stifel Nicolaus raised their target price on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Wedbush reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Tesla in a report on Monday, November 18th. Barclays raised their price objective on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. upped their target price on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $230.18.

Tesla Stock Performance

Shares of Tesla stock opened at $352.56 on Monday. The firm has a market cap of $1.13 trillion, a PE ratio of 96.59, a price-to-earnings-growth ratio of 11.45 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 $361.53. The business’s fifty day simple moving average is $264.07 and its 200-day simple moving average is $226.79.

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

Tesla Company 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.