Wrapmanager Inc. Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wrapmanager Inc. increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,462 shares of the electric vehicle producer's stock after buying an additional 1,569 shares during the quarter. Wrapmanager Inc.'s holdings in Tesla were worth $2,737,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Oppenheimer & Co. Inc. raised its holdings in Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer's stock worth $37,801,000 after buying an additional 1,741 shares during the period. Tyler Stone Wealth Management boosted its holdings 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 during the period. Savvy Advisors Inc. grew its position in Tesla by 24.2% during the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer's stock valued at $1,969,000 after purchasing an additional 1,467 shares in the last quarter. ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Tesla by 19.0% during the 3rd 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 buying an additional 3,909 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer's stock worth $955,052,000 after acquiring an additional 194,796 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, 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 transaction of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company's stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business's stock in a transaction dated Friday, September 6th. The shares were 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 owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,797 shares of company stock worth $57,616,781. Insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. New Street Research lowered shares of Tesla from a "buy" rating to a "neutral" rating and set a $225.00 price target on the stock. in a research note on Wednesday, July 24th. Sanford C. Bernstein restated an "underperform" rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Wells Fargo & Company lifted their price target on shares of Tesla from $120.00 to $125.00 and gave the company an "underweight" rating in a research report on Thursday, October 24th. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a research note on Tuesday, October 8th. Finally, Wolfe Research initiated coverage on Tesla in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Tesla has an average rating of "Hold" and an average price target of $230.18.

Tesla Trading Up 2.1 %

Shares of NASDAQ TSLA traded up $7.25 during midday trading on Tuesday, reaching $345.99. The stock had a trading volume of 66,015,559 shares, compared to its average volume of 96,021,508. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $358.64. The company's 50 day moving average price is $254.75 and its 200 day moving average price is $222.13. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 94.55, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) 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 analysts' expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business's revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current 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.