Tesla, Inc. (NASDAQ:TSLA) Position Raised by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 49.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,735 shares of the electric vehicle producer’s stock after acquiring an additional 53,492 shares during the quarter. Tesla accounts for about 2.5% of Harvest Fund Management Co. Ltd’s investment portfolio, making the stock its 9th largest holding. Harvest Fund Management Co. Ltd’s holdings in Tesla were worth $42,567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Bank & Trust Co bought a new position in shares of Tesla in the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new position in Tesla in the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% during the 2nd 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 during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter valued at $29,000. Finally, Clean Yield Group increased its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were 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 of the company’s stock, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of analyst reports. Wolfe Research initiated coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Wedbush reiterated an “outperform” rating and issued a $400.00 price target on shares of Tesla in a research report on Monday, November 18th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $295.00 price target on shares of Tesla in a research note on Tuesday, September 10th. Finally, HSBC reaffirmed a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $230.18.

Tesla Trading Up 3.8 %

NASDAQ TSLA opened at $352.56 on Monday. The stock has a market cap of $1.13 trillion, a PE ratio of 96.59, a PEG ratio of 11.45 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $361.53. The company’s 50-day moving average price is $264.07 and its 200-day moving average price is $226.79. 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 issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current 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.