Jennison Associates LLC Purchases 1,294,093 Shares of Tesla, Inc. (NASDAQ:TSLA)

Jennison Associates LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,201,212 shares of the electric vehicle producer's stock after buying an additional 1,294,093 shares during the quarter. Tesla makes up approximately 2.0% of Jennison Associates LLC's investment portfolio, making the stock its 11th largest position. Jennison Associates LLC owned approximately 0.38% of Tesla worth $3,192,203,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. raised its stake in shares of Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer's stock valued at $37,801,000 after acquiring an additional 1,741 shares during the period. Tyler Stone Wealth Management increased its position in shares of Tesla by 109.6% during the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer's stock worth $2,466,000 after purchasing an additional 4,929 shares in the last quarter. Savvy Advisors Inc. grew its holdings in shares of Tesla by 24.2% during the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer's stock worth $1,969,000 after buying an additional 1,467 shares during the last quarter. ICICI Prudential Asset Management Co Ltd lifted its position in Tesla by 19.0% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer's stock valued at $6,394,000 after purchasing an additional 3,909 shares during the period. Finally, West Family Investments Inc. lifted its stake in shares of Tesla by 20.8% in the third quarter. West Family Investments Inc. now owns 9,026 shares of the electric vehicle producer's stock valued at $2,361,000 after purchasing an additional 1,556 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of Tesla from $195.00 to $300.00 and gave the stock a "hold" rating in a research note on Thursday, November 14th. The Goldman Sachs Group boosted their price objective on shares of Tesla from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. KGI Securities upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 price objective on the stock in a research note on Thursday, October 24th. Phillip Securities lowered Tesla from a "moderate sell" rating to a "strong sell" rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley restated an "overweight" rating and issued a $310.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $230.18.

Insider Transactions at Tesla

In other 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. 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 in the last three months. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 2.0 %

NASDAQ:TSLA traded down $6.76 on Wednesday, reaching $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 market cap of $1.09 trillion, a price-to-earnings ratio of 92.86, a P/E/G ratio of 10.42 and a beta of 2.29. The firm's fifty day moving average is $257.14 and its two-hundred day moving average is $223.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month 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.

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

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.