Objective Capital Management LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Objective Capital Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,133 shares of the electric vehicle producer’s stock, valued at approximately $820,000.

Several other institutional investors and hedge funds have also modified their holdings of TSLA. Principal Financial Group Inc. lifted its holdings in Tesla by 5.6% during 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 buying an additional 194,796 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares during the period. Gladstone Institutional Advisory LLC lifted its stake in shares of Tesla by 6.5% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock valued at $11,349,000 after purchasing an additional 2,664 shares during the period. AIA Group Ltd lifted its stake in shares of Tesla by 10.1% in the 3rd quarter. AIA Group Ltd now owns 83,374 shares of the electric vehicle producer’s stock valued at $21,813,000 after purchasing an additional 7,655 shares during the period. Finally, Morse Asset Management Inc lifted its stake in shares of Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TSLA shares. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research report on Wednesday, July 24th. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research report on Wednesday, October 23rd. Canaccord Genuity Group upped 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. William Blair started coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Eight 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’s stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $222.03.

Tesla Price Performance

NASDAQ:TSLA traded up $24.31 during mid-day trading on Friday, reaching $321.22. The stock had a trading volume of 204,782,763 shares, compared to its average volume of 94,883,055. The stock has a 50-day simple moving average of $241.18 and a two-hundred day simple moving average of $214.90. The stock has a market capitalization of $1.03 trillion, a PE ratio of 88.01, a P/E/G ratio of 9.51 and a beta of 2.29. 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 12 month low of $138.80 and a 12 month high of $328.71.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for 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%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction 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 transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock valued at $19,211,821 over the last three months. 20.70% of the stock is owned by insiders.

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.