Stevens Capital Management LP Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Stevens Capital Management LP bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 122,853 shares of the electric vehicle producer’s stock, valued at approximately $32,142,000. Tesla comprises 4.6% of Stevens Capital Management LP’s holdings, making the stock its 5th largest holding.

A number of other hedge funds have also modified their holdings of the business. Valley Wealth Managers Inc. acquired a new stake in Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in Tesla during the third quarter worth about $29,000. Clean Yield Group increased its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in Tesla during the third quarter worth about $35,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TSLA shares. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and increased their target price for the stock from $85.00 to $380.00 in a research note on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, HSBC reaffirmed a “reduce” rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Nine analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $243.75.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were 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 in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 420,577 shares of company stock worth $135,230,506 in the last three months. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $357.93 on Thursday. The firm’s fifty day simple moving average is $280.65 and its 200-day simple moving average is $235.96. The stock has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 98.06, a PEG ratio of 11.41 and a beta of 2.36. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $361.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the company posted $0.53 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share 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.