Alpha Family Trust Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Alpha Family Trust lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,980 shares of the electric vehicle producer’s stock after acquiring an additional 450 shares during the quarter. Tesla comprises approximately 1.9% of Alpha Family Trust’s portfolio, making the stock its 12th largest position. Alpha Family Trust’s holdings in Tesla were worth $3,396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank & Trust Co acquired a new position in shares of Tesla in the second quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the third quarter worth about $29,000. Finally, Clean Yield Group lifted its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Canaccord Genuity Group boosted their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Citigroup cut their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Wedbush upped their price objective on Tesla from $300.00 to $400.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $230.18.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction 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 approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,797 shares of company stock worth $57,616,781. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $320.72 on Friday. The stock has a fifty day moving average price of $252.30 and a two-hundred day moving average price of $220.72. 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 cap of $1.03 trillion, a P/E ratio of 87.87, a PEG ratio of 10.42 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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 firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. Research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Tesla 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.