Smith Salley & Associates Has $576,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Smith Salley & Associates increased its stake in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 166.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,170 shares of the electric vehicle producer’s stock after acquiring an additional 1,357 shares during the quarter. Smith Salley & Associates’ holdings in Tesla were worth $576,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TSLA. Baillie Gifford & Co. increased its stake in shares of Tesla by 196.4% in the 3rd quarter. Baillie Gifford & Co. now owns 27,876,833 shares of the electric vehicle producer’s stock valued at $7,394,330,000 after acquiring an additional 18,472,529 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Tesla by 189.0% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,366,820 shares of the electric vehicle producer’s stock valued at $2,484,549,000 after acquiring an additional 6,125,732 shares in the last quarter. SG Americas Securities LLC increased its stake in Tesla by 105.0% during the 3rd quarter. SG Americas Securities LLC now owns 105,194 shares of the electric vehicle producer’s stock valued at $27,903,000 after purchasing an additional 2,209,304 shares in the last quarter. New York State Teachers Retirement System increased its stake in Tesla by 217.2% during the 3rd quarter. New York State Teachers Retirement System now owns 3,159,080 shares of the electric vehicle producer’s stock valued at $837,946,000 after purchasing an additional 2,163,098 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Tesla by 10.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,233,086 shares of the electric vehicle producer’s stock valued at $9,584,845,000 after purchasing an additional 1,317,687 shares in the last quarter. Institutional investors own 43.00% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. Royal Bank of Canada decreased their price target on shares of Tesla from $225.00 to $186.00 in a research note on Tuesday, January 3rd. Evercore ISI decreased their price target on shares of Tesla from $300.00 to $200.00 and set an “in-line” rating for the company in a research note on Tuesday, December 20th. JPMorgan Chase & Co. decreased their price target on shares of Tesla from $150.00 to $125.00 and set an “underweight” rating for the company in a research note on Tuesday, January 3rd. Edward Jones upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, January 5th. Finally, Piper Sandler reduced their target price on shares of Tesla from $340.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday. Six 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’s stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $218.29.

Tesla Stock Performance

NASDAQ:TSLA opened at $133.42 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.46 and a quick ratio of 1.04. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $384.29. The stock’s 50 day simple moving average is $150.72 and its two-hundred day simple moving average is $222.02. The company has a market cap of $421.31 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 0.95 and a beta of 2.02.

Tesla (NASDAQ:TSLAGet Rating) last released its quarterly earnings data on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The business 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 company posted $0.48 EPS. The company’s revenue was up 55.9% compared to the same quarter last year. As a group, equities analysts anticipate 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 business’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the transaction, the senior vice president now 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 SEC, which is accessible through the SEC website. In other news, SVP Andrew D. Baglino sold 1,312 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total transaction of $233,627.84. Following the transaction, the senior vice president now owns 64,259 shares of the company’s stock, valued at approximately $11,442,600.13. The transaction was disclosed in a filing with the SEC, which is accessible 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 value of $2,414,475.00. Following the completion of the transaction, 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. In the last 90 days, 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 insiders.

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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