GAMMA Investing LLC Has $23.47 Million Holdings in Tesla, Inc. $TSLA

GAMMA Investing LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,779 shares of the electric vehicle producer’s stock after acquiring an additional 4,723 shares during the period. Tesla comprises approximately 1.3% of GAMMA Investing LLC’s investment portfolio, making the stock its 10th largest holding. GAMMA Investing LLC’s holdings in Tesla were worth $23,472,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after buying an additional 4,502,976 shares during the last quarter. Geode Capital Management LLC raised its position in Tesla by 2.0% during the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after acquiring an additional 1,269,304 shares in the last quarter. Norges Bank acquired a new stake in Tesla in the second quarter valued at $11,839,824,000. Legal & General Group Plc grew its position in shares of Tesla by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after acquiring an additional 1,134,678 shares during the period. Finally, Amundi increased its stake in shares of Tesla by 20.4% during the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock worth $6,374,284,000 after purchasing an additional 3,422,270 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $600.00 target price on shares of Tesla in a research note on Monday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. Truist Financial boosted their target price on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. increased their price target on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Finally, Glj Research reaffirmed a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $400.86.

Tesla Stock Up 3.1%

TSLA stock opened at $489.88 on Wednesday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $491.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 326.59, a PEG ratio of 11.88 and a beta of 1.87. The business’s fifty day moving average price is $437.09 and its two-hundred day moving average price is $378.24.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the transaction, the director owned 1,391,615 shares in the company, valued at $627,145,215.90. This represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. The trade was a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 19.90% of the company’s stock.

Tesla Company Profile

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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.