Shearwater Capital LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Shearwater Capital LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 200.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,521 shares of the electric vehicle producer’s stock after purchasing an additional 3,014 shares during the quarter. Tesla comprises approximately 1.4% of Shearwater Capital LLC’s holdings, making the stock its 10th largest position. Shearwater Capital LLC’s holdings in Tesla were worth $1,199,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in TSLA. Riggs Asset Managment Co. Inc. raised its holdings in Tesla by 0.6% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,761 shares of the electric vehicle producer’s stock worth $1,186,000 after acquiring an additional 11 shares during the last quarter. Advisor OS LLC raised its holdings in Tesla by 2.4% in the 2nd quarter. Advisor OS LLC now owns 510 shares of the electric vehicle producer’s stock worth $344,000 after acquiring an additional 12 shares during the last quarter. Alera Investment Advisors LLC raised its holdings in Tesla by 1.4% in the 2nd quarter. Alera Investment Advisors LLC now owns 852 shares of the electric vehicle producer’s stock worth $574,000 after acquiring an additional 12 shares during the last quarter. Stanley Laman Group Ltd. raised its holdings in Tesla by 4.0% in the 2nd quarter. Stanley Laman Group Ltd. now owns 314 shares of the electric vehicle producer’s stock worth $211,000 after acquiring an additional 12 shares during the last quarter. Finally, Trust Co. of Toledo NA OH raised its holdings in Tesla by 1.2% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 1,004 shares of the electric vehicle producer’s stock worth $676,000 after acquiring an additional 12 shares during the last quarter. 43.00% of the stock is owned by institutional investors.

Tesla Stock Up 5.9 %

TSLA opened at $119.77 on Tuesday. The firm has a 50-day simple moving average of $164.46 and a two-hundred day simple moving average of $228.66. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $384.29. The company has a market capitalization of $378.20 billion, a PE ratio of 37.00, a price-to-earnings-growth ratio of 0.83 and a beta of 2.02. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05.

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

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, October 27th. The shares were sold at an average price of $229.95, for a total value of $2,414,475.00. Following the sale, the senior vice president now directly owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 1,312 shares of the stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total transaction of $233,627.84. Following the completion of the sale, the senior vice president now directly owns 64,259 shares in the company, valued at $11,442,600.13. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,172,833 shares of company stock worth $4,492,567,309. 25.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TSLA shares. Cowen decreased their target price on shares of Tesla from $244.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 20th. Cowen decreased their target price on shares of Tesla from $205.00 to $122.00 in a research note on Tuesday, January 3rd. The Goldman Sachs Group decreased their target price on shares of Tesla from $235.00 to $205.00 and set a “buy” rating for the company in a research note on Monday, January 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Tesla from $270.00 to $250.00 in a research note on Tuesday, January 3rd. Finally, Wolfe Research decreased their target price on shares of Tesla from $360.00 to $288.00 and set an “outperform” rating for the company in a research note on Thursday, October 20th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $230.20.

About Tesla

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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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