Empowered Funds LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Empowered Funds LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,563 shares of the electric vehicle producer’s stock after acquiring an additional 2,001 shares during the quarter. Empowered Funds LLC’s holdings in Tesla were worth $18,985,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position 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 acquiring an additional 3,795,748 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of 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 buying an additional 11,023,436 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in 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 buying an additional 5,875,484 shares during the period. ARK Investment Management LLC boosted its stake in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares during the period. Finally, National Pension Service grew its position in Tesla by 15.3% in the 3rd quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock valued at $1,355,939,000 after acquiring an additional 688,717 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TSLA. Citigroup cut their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Wells Fargo & Company lifted their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Glj Research reiterated a “sell” rating and issued a $24.86 target price on shares of Tesla in a research report on Thursday, October 17th. Finally, Bank of America upped their target price on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $228.24.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on 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 owns 105,032 shares in the company, valued at $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

Shares of TSLA opened at $310.21 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64. The firm’s 50 day moving average is $248.48 and its 200-day moving average is $218.94. The stock has a market capitalization of $995.79 billion, a P/E ratio of 85.25, a P/E/G ratio of 10.73 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 (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the business earned $0.53 EPS. The company’s revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal 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.