Tesla, Inc. (NASDAQ:TSLA) Holdings Boosted by Belmont Capital LLC

Belmont Capital LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 46.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,068 shares of the electric vehicle producer's stock after purchasing an additional 9,165 shares during the quarter. Tesla comprises approximately 1.3% of Belmont Capital LLC's holdings, making the stock its 13th biggest holding. Belmont Capital LLC's holdings in Tesla were worth $7,605,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Connable Office Inc. boosted its holdings in shares of Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer's stock valued at $3,368,000 after purchasing an additional 38 shares during the last quarter. Holistic Financial Partners lifted its holdings in shares of Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer's stock valued at $1,061,000 after acquiring an additional 40 shares in the last quarter. Integris Wealth Management LLC lifted its holdings in shares of Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer's stock valued at $804,000 after acquiring an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its holdings in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer's stock valued at $800,000 after acquiring an additional 43 shares in the last quarter. Finally, Echo Wealth Management LLC lifted its holdings in shares of Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer's stock valued at $1,281,000 after acquiring an additional 44 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TSLA shares. Piper Sandler lifted their target price on shares of Tesla from $310.00 to $315.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Roth Mkm restated a "neutral" rating and set a $85.00 target price on shares of Tesla in a report on Friday, October 11th. HSBC restated a "reduce" rating and set a $124.00 target price on shares of Tesla in a report on Friday, October 11th. Oppenheimer reaffirmed a "market perform" rating on shares of Tesla in a research note on Tuesday, October 8th. Finally, Canaccord Genuity Group lifted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $230.18.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company's stock in a transaction 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock worth $92,956,692 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

TSLA stock traded up $7.26 on Tuesday, reaching $346.00. The company's stock had a trading volume of 88,565,972 shares, compared to its average volume of 96,129,742. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market capitalization of $1.11 trillion, a P/E ratio of 94.79, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. The firm has a fifty day moving average of $257.14 and a two-hundred day moving average of $223.29.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. As a group, analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Tesla 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.