Caprock Group LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Caprock Group LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,455 shares of the electric vehicle producer's stock after acquiring an additional 7,333 shares during the quarter. Caprock Group LLC's holdings in Tesla were worth $10,323,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TSLA. Connable Office Inc. lifted its position in shares of Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer's stock valued at $3,368,000 after buying an additional 38 shares in the last quarter. Holistic Financial Partners lifted its holdings in Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer's stock valued at $1,061,000 after purchasing an additional 40 shares in the last quarter. Integris Wealth Management LLC raised its position 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 worth $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its stake in Tesla by 1.4% in 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 buying an additional 43 shares in the last quarter. Finally, Echo Wealth Management LLC increased its stake in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer's stock worth $1,281,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Up 2.1 %

Shares of NASDAQ:TSLA traded up $7.26 on Tuesday, hitting $346.00. 88,565,972 shares of the company's stock were exchanged, compared to its average volume of 96,129,742. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The company has a market capitalization of $1.11 trillion, a PE ratio of 94.79, a P/E/G ratio of 10.42 and a beta of 2.29. The firm's 50-day moving average is $257.14 and its 200 day moving average is $223.29.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TSLA shares. Wedbush restated an "outperform" rating and issued a $400.00 price objective on shares of Tesla in a report on Monday. William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They issued an "outperform" rating for the company. Piper Sandler increased their price target on Tesla from $310.00 to $315.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Guggenheim raised their target price on Tesla from $153.00 to $156.00 and gave the stock a "sell" rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $230.18.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company's stock, 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 sold a total of 301,187 shares of company stock valued at $92,956,692 over the last ninety days. Insiders own 20.70% of the company's stock.

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.