Tesla, Inc. (NASDAQ:TSLA) Position Decreased by Draper Asset Management LLC

Draper Asset Management LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,983 shares of the electric vehicle producer’s stock after selling 1,945 shares during the period. Tesla makes up 6.2% of Draper Asset Management LLC’s investment portfolio, making the stock its 5th largest position. Draper Asset Management LLC’s holdings in Tesla were worth $8,629,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Tesla by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after acquiring an additional 301,968 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Tesla by 11.9% in the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock valued at $3,192,203,000 after buying an additional 1,294,093 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares during the period. Swiss National Bank lifted its position in Tesla by 0.4% during the 3rd quarter. Swiss National Bank now owns 8,519,675 shares of the electric vehicle producer’s stock worth $2,229,003,000 after acquiring an additional 33,100 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its position in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $352.56 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.53. The firm has a market cap of $1.13 trillion, a price-to-earnings ratio of 96.59, a P/E/G ratio of 11.03 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The business’s 50-day simple moving average is $264.07 and its 200-day simple moving average is $226.43.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on TSLA shares. William Blair initiated coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Jefferies Financial Group lifted their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Piper Sandler lifted their price target on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Barclays increased their target price on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $230.18.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock worth $92,956,692 in the last ninety days. Insiders own 20.70% of the company’s stock.

About Tesla

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.