Wilmington Savings Fund Society FSB Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Wilmington Savings Fund Society FSB lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 106.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,100 shares of the electric vehicle producer’s stock after acquiring an additional 8,303 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Tesla were worth $4,212,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Clean Energy Transition LLP increased its holdings in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Tesla by 13.7% in the 3rd 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 worth $6,377,970,000 after acquiring an additional 2,946,763 shares during the period. Finally, Wellington Management Group LLP increased its stake in Tesla by 52.0% in the 3rd quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after purchasing an additional 2,511,488 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in 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. Bank of America lifted their target price on shares of Tesla from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Wells Fargo & Company increased their price target on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Royal Bank of Canada lifted 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. Finally, Guggenheim raised their price target on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research report on Thursday, December 5th. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $257.36.

Tesla Stock Down 1.6 %

NASDAQ:TSLA opened at $418.10 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 114.55, a price-to-earnings-growth ratio of 10.52 and a beta of 2.36. Tesla, Inc. has a one year low of $138.80 and a one year high of $429.30. The stock has a 50-day simple moving average of $298.02 and a 200 day simple moving average of $244.72.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.53 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $40,775,792.65. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,903,716. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 522,886 shares of company stock worth $171,393,831. 20.70% of the stock is owned by insiders.

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.