Tesla, Inc. (NASDAQ:TSLA) Stake Boosted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,755 shares of the electric vehicle producer's stock after buying an additional 10,898 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Tesla were worth $12,233,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% during the 2nd 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 purchased a new stake in shares of Tesla in the third quarter valued at about $29,000. Finally, Clean Yield Group increased its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Down 5.8 %

TSLA stock traded down $19.06 during midday trading on Thursday, hitting $311.18. The stock had a trading volume of 119,970,818 shares, compared to its average volume of 95,937,266. The company's 50-day moving average price is $248.48 and its 200 day moving average price is $218.94. 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 firm has a market cap of $998.91 billion, a PE ratio of 87.07, a price-to-earnings-growth ratio of 10.67 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the company posted $0.53 EPS. The company's quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TSLA shares. Royal Bank of Canada increased their price target on shares of Tesla from $236.00 to $249.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Phillip Securities upgraded Tesla to a "moderate sell" rating in a research report on Friday, October 25th. Truist Financial lifted their target price on Tesla from $236.00 to $238.00 and gave the company a "hold" rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their price target on Tesla from $120.00 to $125.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. Finally, Argus restated a "buy" rating and issued a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $228.24.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock valued at $57,616,781 over the last quarter. Company insiders own 20.70% of the company's stock.

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.