Commerce Bank Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Commerce Bank boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 135,039 shares of the electric vehicle producer's stock after acquiring an additional 2,453 shares during the period. Commerce Bank's holdings in Tesla were worth $35,330,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP lifted its position in shares of 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 worth $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in Tesla by 21,816.0% during the second 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 purchasing an additional 5,875,484 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer's stock valued at $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Tesla in the 1st quarter worth about $187,775,000. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company's stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction 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 completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Tesla from $274.00 to $258.00 and set a "neutral" rating on the stock in a report on Wednesday, July 24th. StockNews.com raised shares of Tesla from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Morgan Stanley reissued an "overweight" rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Finally, Canaccord Genuity Group boosted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a "buy" rating in a 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 given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $230.18.

Tesla Stock Performance

Shares of TSLA traded down $6.76 during mid-day trading on Wednesday, hitting $339.24. The stock had a trading volume of 53,102,469 shares, compared to its average volume of 95,940,688. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.09 trillion, a PE ratio of 92.86, a PEG ratio of 10.42 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $358.64. The company's fifty day simple moving average is $257.14 and its two-hundred day simple moving average is $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, topping analysts' consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the company earned $0.53 earnings per share. The company's quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current 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.