Empowered Funds LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Empowered Funds LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,563 shares of the electric vehicle producer's stock after purchasing an additional 2,001 shares during the period. Empowered Funds LLC's holdings in Tesla were worth $18,985,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TSLA. Bank & Trust Co acquired a new position in shares of Tesla in the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the second quarter valued at $26,000. Abich Financial Wealth Management LLC boosted its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter worth about $29,000. Finally, Clean Yield Group raised its position in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after acquiring an additional 48 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 3.1 %

Shares of TSLA stock traded up $9.54 on Friday, hitting $320.72. 114,160,487 shares of the company's stock traded hands, compared to its average volume of 96,026,047. 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 stock has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.49, a P/E/G ratio of 10.73 and a beta of 2.29. The company's fifty day simple moving average is $250.10 and its 200 day simple moving average is $219.58. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during 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 business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Equities analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares of the company's stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock worth $57,616,781 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TSLA. KGI Securities upgraded Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 target price for the company in a report on Thursday, October 24th. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a research report on Tuesday, October 8th. Bank of America raised their price target on shares of Tesla from $265.00 to $350.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, October 24th. Finally, New Street Research downgraded Tesla from a "buy" rating to a "neutral" rating and set a $225.00 target price for the company. in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $230.18.

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.