Crystal Rock Capital Management Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Crystal Rock Capital Management raised its position in Tesla, Inc. (NASDAQ:TSLA) by 20.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,555 shares of the electric vehicle producer’s stock after buying an additional 1,650 shares during the period. Tesla makes up about 1.5% of Crystal Rock Capital Management’s holdings, making the stock its 22nd biggest holding. Crystal Rock Capital Management’s holdings in Tesla were worth $2,500,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its stake in shares of Tesla by 0.9% in the 3rd quarter. Harbour Investments Inc. now owns 24,855 shares of the electric vehicle producer’s stock valued at $6,503,000 after purchasing an additional 227 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Tesla in the 3rd quarter valued at about $2,642,000. Everhart Financial Group Inc. raised its stake in shares of Tesla by 15.5% in the 3rd quarter. Everhart Financial Group Inc. now owns 14,208 shares of the electric vehicle producer’s stock valued at $3,717,000 after purchasing an additional 1,903 shares in the last quarter. Venturi Wealth Management LLC raised its stake in Tesla by 20.7% during the third quarter. Venturi Wealth Management LLC now owns 16,130 shares of the electric vehicle producer’s stock worth $4,220,000 after acquiring an additional 2,764 shares during the period. Finally, Core Wealth Partners LLC raised its stake in Tesla by 30.7% during the third quarter. Core Wealth Partners LLC now owns 2,572 shares of the electric vehicle producer’s stock worth $673,000 after acquiring an additional 604 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wedbush increased their price objective on shares of Tesla from $300.00 to $400.00 and gave the stock an “outperform” rating in a research note on Monday. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research note on Wednesday, July 24th. Wolfe Research initiated coverage on shares of Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. Finally, Bank of America raised their price target on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $225.06.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,442,856.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock valued at $19,211,821 in the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 9.0 %

Shares of NASDAQ:TSLA opened at $350.00 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64. The firm has a fifty day moving average of $243.90 and a two-hundred day moving average of $217.03. The firm has a market capitalization of $1.12 trillion, a P/E ratio of 95.89, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 business had revenue of $25.18 billion during 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%. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. On average, equities analysts expect that Tesla, Inc. will post 1.96 EPS for the current fiscal 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.