Quest Partners LLC Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Quest Partners LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, Holdings Channel reports. The firm acquired 9,030 shares of the electric vehicle producer’s stock, valued at approximately $2,363,000.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew 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 worth $2,892,160,000 after acquiring an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP grew its holdings in Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after acquiring an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in Tesla by 21,816.0% during the 2nd 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. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after acquiring an additional 1,479,378 shares in the last quarter. Finally, Swedbank AB acquired a new position in Tesla during the 1st quarter worth approximately $187,775,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,797 shares of company stock valued at $57,616,781 in the last ninety days. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $320.72 on Monday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The stock has a market cap of $1.03 trillion, a price-to-earnings ratio of 87.87, a PEG ratio of 10.42 and a beta of 2.29. The company’s 50-day moving average price is $252.30 and its 200 day moving average price is $221.01. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TSLA shares. Wedbush upped their target price on shares of Tesla from $300.00 to $400.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a report on Wednesday, July 24th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Nine investment 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. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $230.18.

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.