Princeton Capital Management LLC Has $2.09 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Princeton Capital Management LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 23.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,004 shares of the electric vehicle producer’s stock after buying an additional 1,532 shares during the quarter. Princeton Capital Management LLC’s holdings in Tesla were worth $2,094,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank & Trust Co acquired a new position in Tesla in the second quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new stake in Tesla in the 3rd quarter valued at $29,000. Finally, Clean Yield Group grew its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Piper Sandler boosted their price target on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $230.18.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,797 shares of company stock worth $57,616,781. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $338.74 on Tuesday. The stock has a market cap of $1.09 trillion, a price-to-earnings ratio of 92.81, a P/E/G ratio of 10.42 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $358.64. The company’s fifty day moving average is $254.75 and its 200 day moving average is $222.13.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the company earned $0.53 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

About Tesla

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.