Ballentine Partners LLC Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Ballentine Partners LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 273.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,554 shares of the electric vehicle producer’s stock after purchasing an additional 21,645 shares during the quarter. Ballentine Partners LLC’s holdings in Tesla were worth $7,839,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Cranbrook Wealth Management LLC grew its holdings in shares of Tesla by 224.1% during the third quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 65 shares during the last quarter. TFO TDC LLC purchased a new stake in shares of Tesla during the second quarter valued at approximately $27,000. Horan Securities Inc. grew its holdings in shares of Tesla by 164.3% during the second quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 23 shares during the last quarter. Verity Asset Management Inc. bought a new position in Tesla during the first quarter valued at approximately $28,000. Finally, Norway Savings Bank lifted its position in Tesla by 200.0% during the third quarter. Norway Savings Bank now owns 105 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 70 shares during the period. Hedge funds and other institutional investors own 43.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TSLA. Daiwa Capital Markets lowered their price objective on shares of Tesla from $240.00 to $177.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 20th. Global Equities Research restated a “buy” rating on shares of Tesla in a research report on Tuesday, November 8th. Wells Fargo & Company decreased their price target on shares of Tesla from $280.00 to $230.00 and set an “equal weight” rating on the stock in a research report on Friday, October 14th. Citigroup upgraded shares of Tesla from a “sell” rating to a “neutral” rating and increased their price target for the stock from $141.33 to $176.00 in a research report on Wednesday, November 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Tesla from $270.00 to $250.00 in a research report on Tuesday, January 3rd. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $230.20.

Insider Transactions at Tesla

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Andrew D. Baglino sold 1,312 shares of the stock in a transaction that occurred on Tuesday, December 6th. The shares were 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 owns 64,259 shares of the company’s stock, valued at $11,442,600.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $14,484,090.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,172,833 shares of company stock valued at $4,492,567,309. Company insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $123.56 on Friday. The company has a market capitalization of $390.17 billion, a price-to-earnings ratio of 38.18, a PEG ratio of 0.93 and a beta of 2.02. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $384.29. The firm’s 50-day moving average is $158.61 and its 200 day moving average is $226.32. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05.

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

Tesla Company 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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