Holocene Advisors LP Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Holocene Advisors LP lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 98.4% during the third quarter, Holdings Channel reports. The fund owned 947,106 shares of the electric vehicle producer’s stock after purchasing an additional 469,739 shares during the quarter. Tesla accounts for 1.0% of Holocene Advisors LP’s investment portfolio, making the stock its 21st largest holding. Holocene Advisors LP’s holdings in Tesla were worth $247,791,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Connable Office Inc. raised its position in shares of Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares in the last quarter. Community Bank N.A. increased its stake in shares of Tesla by 4.4% in the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after buying an additional 38 shares during the last quarter. Holistic Financial Partners raised its holdings in Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after acquiring an additional 40 shares in the last quarter. Integris Wealth Management LLC boosted its stake in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares during the last quarter. Finally, Sherrill & Hutchins Financial Advisory Inc grew its holdings in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 3.7 %

Shares of NASDAQ:TSLA opened at $345.16 on Monday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.93. The company has a 50 day moving average price of $274.55 and a 200 day moving average price of $232.59. The stock has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 94.56, a PEG ratio of 11.21 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.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 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 the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’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 completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $36,761,200. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock valued at $92,956,692 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Royal Bank of Canada increased their price target on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Wednesday, October 23rd. The Goldman Sachs Group lifted their price objective on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and raised their price target for the stock from $85.00 to $380.00 in a research report on Monday. Nine analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $240.00.

Tesla 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.