Monolith Management Ltd Purchases Shares of 84,500 Tesla, Inc. (NASDAQ:TSLA)

Monolith Management Ltd purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 84,500 shares of the electric vehicle producer’s stock, valued at approximately $22,108,000. Tesla accounts for 12.9% of Monolith Management Ltd’s investment portfolio, making the stock its 2nd largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of TSLA. 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 during the period. Clean Energy Transition LLP boosted its position in shares of 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 valued at $953,505,000 after purchasing an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC grew 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 purchasing an additional 5,875,484 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Tesla by 236.8% in the second 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 purchasing an additional 1,479,378 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Royal Bank of Canada increased their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. HSBC restated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Wolfe Research assumed coverage on Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Nine 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. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $230.18.

Tesla Trading Up 3.8 %

Shares of TSLA opened at $352.56 on Monday. The firm has a market cap of $1.13 trillion, a P/E ratio of 96.59, a price-to-earnings-growth ratio of 11.45 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.53. 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 business has a 50-day moving average of $264.07 and a 200 day moving average of $226.79.

Tesla (NASDAQ:TSLA) last posted its quarterly 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. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred 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 directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock valued at $92,956,692 over the last three months. Company insiders own 20.70% of the company’s stock.

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.