SeaCrest Wealth Management LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 195.6% in the third quarter, Holdings Channel reports. The firm owned 14,614 shares of the electric vehicle producer's stock after buying an additional 9,670 shares during the quarter. SeaCrest Wealth Management LLC's holdings in Tesla were worth $3,876,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Axiom Financial Strategies LLC grew its stake in Tesla by 9.8% in the first quarter. Axiom Financial Strategies LLC now owns 906 shares of the electric vehicle producer's stock valued at $777,000 after acquiring an additional 81 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Tesla by 19.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,001,923 shares of the electric vehicle producer's stock valued at $1,079,672,000 after acquiring an additional 164,789 shares during the period. MAS Advisors LLC boosted its position in shares of Tesla by 25.7% during the first quarter. MAS Advisors LLC now owns 396 shares of the electric vehicle producer's stock worth $433,000 after buying an additional 81 shares during the period. Ergoteles LLC boosted its position in shares of Tesla by 33.4% during the first quarter. Ergoteles LLC now owns 3,567 shares of the electric vehicle producer's stock worth $3,844,000 after buying an additional 893 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Tesla by 6.8% during the first quarter. Mackenzie Financial Corp now owns 72,167 shares of the electric vehicle producer's stock worth $77,767,000 after buying an additional 4,593 shares during the period. 43.00% of the stock is owned by institutional investors and hedge funds.
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Tesla Price Performance
Shares of NASDAQ TSLA opened at $173.44 on Friday. The stock has a fifty day simple moving average of $168.70 and a two-hundred day simple moving average of $200.86. Tesla, Inc. has a 1-year low of $101.81 and a 1-year high of $384.29. The firm has a market cap of $548.78 billion, a price-to-earnings ratio of 47.87, a price-to-earnings-growth ratio of 2.10 and a beta of 2.06. The company has a current ratio of 1.53, a quick ratio of 1.05 and a debt-to-equity ratio of 0.04.
Tesla (NASDAQ:TSLA – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The electric vehicle producer reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.21. Tesla had a return on equity of 31.71% and a net margin of 15.41%. The business had revenue of $24.32 billion during the quarter, compared to analyst estimates of $24.26 billion. During the same period in the prior year, the company earned $0.68 earnings per share. Tesla's revenue was up 37.2% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 3.43 earnings per share for the current year.
Insiders Place Their Bets
In other Tesla news, CAO Vaibhav Taneja sold 2,466 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $195.79, for a total transaction of $482,818.14. Following the sale, the chief accounting officer now owns 100,458 shares in the company, valued at $19,668,671.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tesla news, CAO Vaibhav Taneja sold 2,466 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $195.79, for a total transaction of $482,818.14. Following the sale, the chief accounting officer now owns 100,458 shares in the company, valued at $19,668,671.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $117.50, for a total value of $1,233,750.00. Following the sale, the senior vice president now owns 64,259 shares in the company, valued at approximately $7,550,432.50. The disclosure for this sale can be found here. Insiders have sold a total of 10,128,221 shares of company stock worth $1,637,193,192 over the last 90 days. Corporate insiders own 25.10% of the company's stock.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Robert W. Baird decreased their price target on Tesla from $316.00 to $252.00 and set an "outperform" rating for the company in a research note on Wednesday, December 28th. Berenberg Bank downgraded Tesla from a "buy" rating to a "hold" rating and raised their price target for the company from $200.00 to $210.00 in a research note on Wednesday. Piper Sandler cut their price objective on Tesla from $340.00 to $300.00 and set an "overweight" rating for the company in a research report on Wednesday, January 18th. Cowen raised their price objective on Tesla from $122.00 to $140.00 and gave the company a "market perform" rating in a research report on Thursday, January 26th. Finally, Argus cut their price objective on Tesla from $374.00 to $257.00 and set a "buy" rating for the company in a research report on Friday, January 27th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $221.39.
Tesla Company Profile
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Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles and energy generation and storage systems. The company operates through the following segments: Automotive and Energy Generation and Storage. The Automotive segment includes the design, development, manufacture, sale, and lease of electric vehicles as well as sales of automotive regulatory credits.
Further Reading
- Get a free copy of the StockNews.com research report on Tesla (TSLA)
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