CVA Family Office LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

CVA Family Office LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 37.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,572 shares of the electric vehicle producer’s stock after acquiring an additional 1,798 shares during the period. CVA Family Office LLC’s holdings in Tesla were worth $1,719,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares in the last quarter. Morse Asset Management Inc raised its stake in shares of Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after buying an additional 3,462 shares during the period. Newbridge Financial Services Group Inc. lifted its position in shares of Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after buying an additional 1,943 shares in the last quarter. NewEdge Advisors LLC grew its stake in Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after acquiring an additional 27,130 shares during the period. Finally, Entropy Technologies LP purchased a new stake in Tesla in the 1st quarter worth $1,941,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 over the last three months. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 8.8 %

Shares of Tesla stock traded down $20.97 during trading on Friday, hitting $217.80. 142,628,874 shares of the stock were exchanged, compared to its average volume of 77,163,496. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The firm’s 50-day moving average price is $225.43 and its 200 day moving average price is $203.79. The stock has a market cap of $695.79 billion, a price-to-earnings ratio of 61.18, a price-to-earnings-growth ratio of 6.48 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on TSLA. Royal Bank of Canada boosted their target price on shares of Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Thursday, September 26th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $230.00 target price on shares of Tesla in a research note on Friday. Finally, Guggenheim boosted their price target on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $210.72.

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.