Weiss Asset Management LP Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Weiss Asset Management LP acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 20,050 shares of the electric vehicle producer’s stock, valued at approximately $5,246,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vinva Investment Management Ltd increased its position in Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after buying an additional 43,685 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after buying an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management increased its position in Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after buying an additional 4,929 shares in the last quarter. Fred Alger Management LLC increased its position in Tesla by 187.0% during the 3rd quarter. Fred Alger Management LLC now owns 725,282 shares of the electric vehicle producer’s stock valued at $189,756,000 after buying an additional 472,565 shares in the last quarter. Finally, Savvy Advisors Inc. increased its holdings in shares of Tesla by 24.2% in the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after purchasing an additional 1,467 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on TSLA shares. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. UBS Group lifted their target price on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a report on Monday, November 25th. Stifel Nicolaus lifted their target price on Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. Finally, Piper Sandler lifted their target price on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $245.84.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 520,280 shares of company stock valued at $170,418,640 over the last ninety days. 20.70% of the stock is owned by insiders.

Tesla Trading Up 5.3 %

Shares of TSLA stock opened at $389.22 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $389.49. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock’s 50-day moving average price is $282.96 and its 200-day moving average price is $236.89. The stock has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 106.64, a price-to-earnings-growth ratio of 11.62 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.