Centre Asset Management LLC Purchases Shares of 22,729 Tesla, Inc. (NASDAQ:TSLA)

Centre Asset Management LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 4th quarter, HoldingsChannel.com reports. The firm bought 22,729 shares of the electric vehicle producer’s stock, valued at approximately $9,179,000. Tesla accounts for about 2.1% of Centre Asset Management LLC’s portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of TSLA. Geode Capital Management LLC raised its stake in shares of Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after purchasing an additional 1,022,589 shares in the last quarter. FMR LLC raised its position in Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock valued at $6,473,008,000 after acquiring an additional 828,308 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Tesla by 13.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Tesla by 1.9% in 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 in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA traded up $3.79 during trading hours on Friday, hitting $383.07. 22,915,576 shares of the company were exchanged, compared to its average volume of 62,974,734. The company has a market cap of $1.23 trillion, a price-to-earnings ratio of 104.95, a P/E/G ratio of 10.80 and a beta of 2.36. The firm’s fifty day moving average is $359.54 and its 200 day moving average is $271.59. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. 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 (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the business posted $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 514,886 shares of company stock valued at $169,393,831 over the last quarter. 20.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TSLA shares. Jefferies Financial Group upped their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Canaccord Genuity Group upped their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Royal Bank of Canada raised their price objective on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Wells Fargo & Company upped their target price on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Evercore ISI increased their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday. Nine investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $283.39.

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.