Tesla, Inc. (NASDAQ:TSLA) Stake Raised by Concorde Asset Management LLC

Concorde Asset Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,193 shares of the electric vehicle producer’s stock after acquiring an additional 67 shares during the period. Concorde Asset Management LLC’s holdings in Tesla were worth $835,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Bank & Trust Co purchased a new stake in shares of Tesla during the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC raised its stake in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of Tesla in the 3rd quarter valued at approximately $29,000. Finally, Clean Yield Group raised its stake in shares of Tesla by 60.0% in the 3rd 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 in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 0.5 %

TSLA stock opened at $340.17 on Friday. The company has a market cap of $1.09 trillion, a P/E ratio of 93.20, a PEG ratio of 11.24 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $358.64. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $261.63 and a 200-day moving average of $224.93.

Tesla (NASDAQ:TSLA) last released 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. The company 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%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % 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 worth $92,956,692 over the last 90 days. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research note on Thursday, October 24th. Canaccord Genuity Group raised their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Piper Sandler raised their target price on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Bank of America raised their target price on Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Nine equities 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $230.18.

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.