DGS Capital Management LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

DGS Capital Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 17.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,804 shares of the electric vehicle producer’s stock after purchasing an additional 560 shares during the period. DGS Capital Management LLC’s holdings in Tesla were worth $995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Boulder Wealth Advisors LLC purchased a new stake in Tesla in the third quarter worth $232,000. Oriental Harbor Investment Fund purchased a new position in Tesla during the third quarter valued at $14,700,000. Inspire Trust Co. N.A. boosted its holdings in Tesla by 23.3% in the third quarter. Inspire Trust Co. N.A. now owns 8,200 shares of the electric vehicle producer’s stock worth $2,145,000 after acquiring an additional 1,548 shares in the last quarter. Beaird Harris Wealth Management LLC grew its stake in shares of Tesla by 1,089.8% in the third quarter. Beaird Harris Wealth Management LLC now owns 25,949 shares of the electric vehicle producer’s stock worth $6,789,000 after acquiring an additional 23,768 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Tesla by 8.2% during the third quarter. Franklin Resources Inc. now owns 3,958,174 shares of the electric vehicle producer’s stock valued at $1,035,577,000 after acquiring an additional 300,951 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 2.6 %

Shares of NASDAQ TSLA traded up $10.68 during trading on Friday, hitting $428.78. 24,969,605 shares of the company were exchanged, compared to its average volume of 94,420,430. The company has a fifty day moving average price of $298.02 and a 200-day moving average price of $244.72. 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 firm has a market capitalization of $1.38 trillion, a PE ratio of 114.55, a P/E/G ratio of 10.52 and a beta of 2.36. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $430.41.

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

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares in the company, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 522,886 shares of company stock worth $171,393,831. 20.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TSLA. Canaccord Genuity Group increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Truist Financial upped their target price on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. HSBC reiterated a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Wedbush restated an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Finally, Jefferies Financial Group raised their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Nine investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $257.36.

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.