Groupama Asset Managment Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Groupama Asset Managment raised its position in Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,700 shares of the electric vehicle producer’s stock after purchasing an additional 3,764 shares during the quarter. Tesla accounts for approximately 0.8% of Groupama Asset Managment’s holdings, making the stock its 28th biggest holding. Groupama Asset Managment’s holdings in Tesla were worth $39,951,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TSLA. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased its position in shares of Tesla by 168.8% during 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 during the period. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter worth approximately $29,000. Clean Yield Group increased its position in shares of Tesla by 60.0% during 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 during the period. Finally, Peterson Financial Group Inc. purchased a new position in shares of Tesla during the third quarter worth approximately $35,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated 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 in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 520,280 shares of company stock valued at $170,418,640. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent research reports. William Blair initiated coverage on shares of Tesla in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. increased their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. Royal Bank of Canada increased their price objective on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Nine research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $245.84.

Tesla Trading Up 5.3 %

Shares of Tesla stock opened at $389.22 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a fifty day moving average price of $285.53 and a 200 day moving average price of $239.15. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $389.49. The stock has a market cap of $1.25 trillion, a PE ratio of 106.64, a price-to-earnings-growth ratio of 12.64 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last issued its 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 firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Tesla Company 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.