Tesla, Inc. (NASDAQ:TSLA) Shares Bought by SouthState Corp

SouthState Corp lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,989 shares of the electric vehicle producer’s stock after purchasing an additional 297 shares during the quarter. SouthState Corp’s holdings in Tesla were worth $782,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP grew its stake in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC increased its holdings in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after acquiring an additional 1,479,378 shares during the period. Finally, Swedbank AB purchased a new position in Tesla during the first quarter valued at $187,775,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSLA has been the subject of several research analyst reports. HSBC restated a “reduce” rating and set a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Guggenheim raised their target price on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a report on Thursday, October 24th. Finally, Wolfe Research initiated coverage on shares of Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Trading Up 2.1 %

NASDAQ TSLA opened at $346.00 on Wednesday. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 94.79, a PEG ratio of 10.42 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a 50 day simple moving average of $257.14 and a 200-day simple moving average of $223.29.

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

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’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 in the company, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock valued at $92,956,692 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla 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.