Pacer Advisors Inc. Has $77.89 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Pacer Advisors Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 297,722 shares of the electric vehicle producer’s stock after buying an additional 7,966 shares during the period. Pacer Advisors Inc.’s holdings in Tesla were worth $77,893,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank & Trust Co acquired a new position in shares of Tesla during the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla during the second quarter worth $26,000. Abich Financial Wealth Management LLC increased its holdings in 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 buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Tesla during the third quarter worth $29,000. Finally, Clean Yield Group lifted its stake in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.5 %

TSLA stock opened at $340.17 on Friday. The firm has a 50-day moving average price of $261.63 and a 200-day moving average price of $224.93. The stock has a market capitalization of $1.09 trillion, a P/E ratio of 93.20, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. 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 posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share 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 firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $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. Insiders sold a total of 301,187 shares of company stock valued at $92,956,692 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Wedbush reissued an “outperform” rating and set a $400.00 target price on shares of Tesla in a report on Monday. William Blair started coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $230.18.

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.