Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Fred Alger Management LLC

Fred Alger Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 187.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 725,282 shares of the electric vehicle producer's stock after acquiring an additional 472,565 shares during the quarter. Tesla comprises approximately 0.9% of Fred Alger Management LLC's holdings, making the stock its 19th biggest position. Fred Alger Management LLC's holdings in Tesla were worth $189,756,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. raised its holdings in Tesla by 3.8% during the third quarter. Rockefeller Capital Management L.P. now owns 520,960 shares of the electric vehicle producer's stock valued at $136,129,000 after acquiring an additional 19,076 shares during the period. Suvretta Capital Management LLC grew its position in shares of Tesla by 43.7% during the third quarter. Suvretta Capital Management LLC now owns 193,842 shares of the electric vehicle producer's stock worth $50,715,000 after purchasing an additional 58,929 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Tesla by 9.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 8,208 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 721 shares during the period. Vinva Investment Management Ltd lifted its holdings in Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock worth $30,593,000 after purchasing an additional 43,685 shares in the last quarter. Finally, Elite Wealth Management Inc. boosted its stake in Tesla by 4.9% in the 3rd quarter. Elite Wealth Management Inc. now owns 3,809 shares of the electric vehicle producer's stock worth $997,000 after purchasing an additional 178 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

TSLA traded up $12.27 during trading on Friday, reaching $345.16. 37,167,621 shares of the company's stock were exchanged, compared to its average volume of 95,239,375. The company's fifty day simple moving average is $272.41 and its 200-day simple moving average is $230.60. The stock has a market capitalization of $1.11 trillion, a P/E ratio of 94.56, a price-to-earnings-growth ratio of 10.81 and a beta of 2.29. 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, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analysts' expectations of $25.47 billion. During the same quarter last year, the company earned $0.53 EPS. The business's revenue was up 7.8% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction that occurred 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 sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company's stock, valued at $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 301,187 shares of company stock worth $92,956,692 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TSLA. Phillip Securities cut shares of Tesla from a "moderate sell" rating to a "strong sell" rating in a research report on Wednesday, November 13th. Stifel Nicolaus boosted their price target on shares of Tesla from $265.00 to $287.00 and gave the stock a "buy" rating in a research note on Friday, October 25th. Royal Bank of Canada increased their price objective on shares of Tesla from $249.00 to $313.00 and gave the company an "outperform" rating in a report on Friday, November 15th. KGI Securities raised Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $295.00 price target on shares of Tesla in a research note on Tuesday, September 10th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and an average target price of $231.06.

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.