Segment Wealth Management LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Segment Wealth Management LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 200.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,044 shares of the electric vehicle producer’s stock after acquiring an additional 696 shares during the period. Segment Wealth Management LLC’s holdings in Tesla were worth $277,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TSLA. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Tesla by 189.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,366,820 shares of the electric vehicle producer’s stock worth $2,484,549,000 after buying an additional 6,125,732 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Tesla by 10.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 14,233,086 shares of the electric vehicle producer’s stock worth $9,584,845,000 after buying an additional 1,317,687 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Tesla by 109.2% in the first quarter. Renaissance Technologies LLC now owns 1,555,375 shares of the electric vehicle producer’s stock worth $1,676,072,000 after buying an additional 811,900 shares during the last quarter. Sloy Dahl & Holst LLC raised its holdings in Tesla by 202.5% in the third quarter. Sloy Dahl & Holst LLC now owns 1,029,501 shares of the electric vehicle producer’s stock worth $273,075,000 after buying an additional 689,147 shares during the last quarter. Finally, Banco Santander S.A. raised its holdings in Tesla by 2,437.5% in the second quarter. Banco Santander S.A. now owns 674,891 shares of the electric vehicle producer’s stock worth $454,485,000 after buying an additional 648,294 shares during the last quarter. 43.00% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the sale, the senior vice president now owns 62,988 shares of the company’s stock, valued at $14,484,090.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Elon Musk sold 4,400,000 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $191.63, for a total transaction of $843,172,000.00. Following the sale, the chief executive officer now owns 445,617,432 shares of the company’s stock, valued at $85,393,668,494.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the sale, the senior vice president now directly owns 62,988 shares in the company, valued at approximately $14,484,090.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,172,833 shares of company stock valued at $4,492,567,309. 25.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Tesla from $150.00 to $125.00 and set an “underweight” rating for the company in a report on Tuesday, January 3rd. Roth Capital boosted their price objective on shares of Tesla from $83.33 to $85.00 and gave the company a “neutral” rating in a report on Thursday, October 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Tesla from $270.00 to $250.00 in a report on Tuesday, January 3rd. Oppenheimer cut shares of Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, December 19th. Finally, Wedbush decreased their price objective on shares of Tesla from $250.00 to $175.00 and set an “outperform” rating for the company in a report on Friday, December 23rd. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $236.14.

Tesla Price Performance

TSLA stock opened at $113.06 on Friday. Tesla, Inc. has a one year low of $101.81 and a one year high of $384.29. The company’s fifty day moving average price is $166.62 and its 200-day moving average price is $229.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.46. The company has a market capitalization of $357.02 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 0.81 and a beta of 2.02.

Tesla (NASDAQ:TSLAGet Rating) last released its earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. Tesla had a net margin of 14.95% and a return on equity of 31.10%. The firm had revenue of $21.45 billion for the quarter, compared to the consensus estimate of $21.96 billion. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The company’s quarterly revenue was up 55.9% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 3.6 EPS for the current fiscal year.

Tesla Profile

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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.

Further Reading

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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