Assetmark Inc. Buys 275 Shares of Tesla, Inc. (NASDAQ:TSLA)

Assetmark Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 0.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 267,347 shares of the electric vehicle producer’s stock after purchasing an additional 275 shares during the period. Assetmark Inc.’s holdings in Tesla were worth $69,946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Tesla by 35,611.2% during 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 acquiring an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC lifted 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 acquiring an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC boosted its holdings in shares of Tesla by 2.6% in 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 acquiring an additional 135,966 shares during the period. Finally, National Pension Service grew its position in shares of Tesla by 15.3% in the third quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock valued at $1,355,939,000 after purchasing an additional 688,717 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial increased their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Royal Bank of Canada boosted their price objective on shares of Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group increased their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Mizuho boosted their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $222.03.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were 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 directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. 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 available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’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 sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,797 shares of company stock worth $19,211,821. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA opened at $321.22 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 $328.71. The stock’s 50 day simple moving average is $241.18 and its 200 day simple moving average is $214.90. The firm has a market cap of $1.03 trillion, a price-to-earnings ratio of 88.01, a PEG ratio of 9.51 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 earnings per share. As a group, analysts predict that Tesla, Inc. will post 1.96 earnings per share for the current year.

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.