Tesla, Inc. (NASDAQ:TSLA) Stock Position Raised by Chase Investment Counsel Corp

Chase Investment Counsel Corp lifted its position in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 489.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,016 shares of the electric vehicle producer’s stock after buying an additional 19,111 shares during the quarter. Tesla makes up 3.9% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 5th largest holding. Chase Investment Counsel Corp’s holdings in Tesla were worth $6,104,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cranbrook Wealth Management LLC grew its stake in Tesla by 224.1% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 65 shares in the last quarter. Coston McIsaac & Partners grew its stake in Tesla by 200.0% during the 3rd quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 64 shares in the last quarter. TFO TDC LLC acquired a new position in Tesla during the 2nd quarter worth $27,000. Horan Securities Inc. grew its stake in Tesla by 164.3% during the 2nd quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 23 shares in the last quarter. Finally, West Oak Capital LLC acquired a new position in Tesla during the 3rd quarter worth $27,000. Hedge funds and other institutional investors own 43.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. JPMorgan Chase & Co. lowered their target price on Tesla from $150.00 to $125.00 and set an “underweight” rating for the company in a research note on Tuesday, January 3rd. Wolfe Research lowered their price objective on Tesla from $360.00 to $288.00 and set an “outperform” rating for the company in a research report on Thursday, October 20th. Wedbush lowered their price objective on Tesla from $250.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, December 23rd. Robert W. Baird lowered their price objective on Tesla from $316.00 to $252.00 and set an “outperform” rating for the company in a research report on Wednesday, December 28th. Finally, Cowen lowered their price objective on Tesla from $205.00 to $122.00 in a research report on Tuesday, January 3rd. Six equities 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, Tesla currently has an average rating of “Hold” and an average price target of $218.29.

Tesla Stock Performance

Shares of TSLA stock opened at $127.17 on Friday. The company has a market cap of $401.57 billion, a price-to-earnings ratio of 39.29, a price-to-earnings-growth ratio of 0.95 and a beta of 2.02. The stock has a 50 day simple moving average of $151.97 and a 200-day simple moving average of $222.67. Tesla, Inc. has a 12-month low of $101.81 and a 12-month high of $384.29. 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 released its quarterly earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share 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 analysts’ expectations of $21.96 billion. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The company’s revenue was up 55.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, equities analysts forecast that Tesla, Inc. will post 3.6 EPS for the current year.

Insider Buying and Selling

In related news, CFO Zachary Kirkhorn sold 3,751 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $222.50, for a total value of $834,597.50. Following the sale, the chief financial officer now owns 185,276 shares in the company, valued at approximately $41,223,910. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Zachary Kirkhorn sold 3,751 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $222.50, for a total value of $834,597.50. Following the sale, the chief financial officer now owns 185,276 shares in the company, valued at approximately $41,223,910. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Elon Musk sold 9,650,000 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $208.58, for a total value of $2,012,797,000.00. Following the completion of the sale, the chief executive officer now owns 455,467,432 shares in the company, valued at approximately $95,001,396,966.56. The disclosure for this sale can be found here. Insiders have sold a total of 24,172,833 shares of company stock worth $4,492,567,309 in the last quarter. Company insiders own 25.10% of the company’s stock.

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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