Point72 Europe London LLP Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Point72 Europe London LLP bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to its most recent filing with the SEC. The firm bought 6,682 shares of the electric vehicle producer’s stock, valued at approximately $1,748,000.

Other large investors also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Tesla by 44.5% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,318,087 shares of the electric vehicle producer’s stock valued at $344,851,000 after buying an additional 406,103 shares during the last quarter. Circle Wealth Management LLC grew its stake in Tesla by 27.7% during the 3rd quarter. Circle Wealth Management LLC now owns 27,224 shares of the electric vehicle producer’s stock valued at $7,123,000 after purchasing an additional 5,906 shares during the last quarter. White Knight Strategic Wealth Advisors LLC increased its holdings in shares of Tesla by 1.6% in the third quarter. White Knight Strategic Wealth Advisors LLC now owns 17,247 shares of the electric vehicle producer’s stock valued at $4,512,000 after purchasing an additional 279 shares during the period. Fred Alger Management LLC raised its stake in shares of Tesla by 187.0% in the third quarter. Fred Alger Management LLC now owns 725,282 shares of the electric vehicle producer’s stock worth $189,756,000 after purchasing an additional 472,565 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Tesla by 3.8% during the third quarter. Rockefeller Capital Management L.P. now owns 520,960 shares of the electric vehicle producer’s stock worth $136,129,000 after purchasing an additional 19,076 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were 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 in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over 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 Up 3.7 %

Shares of NASDAQ:TSLA opened at $345.16 on Friday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $361.93. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $274.55 and a two-hundred day moving average of $231.81. The stock has a market cap of $1.11 trillion, a P/E ratio of 94.56, a PEG ratio of 10.81 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. During the same period last year, the business earned $0.53 earnings per share. Tesla’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Glj Research reissued a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. UBS Group boosted their target price on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research report on Monday, November 25th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. Finally, Barclays raised their target price on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $231.06.

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.