Mainstream Capital Management LLC Invests $1.27 Million in Tesla, Inc. (NASDAQ:TSLA)

Mainstream Capital Management LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the third quarter, HoldingsChannel.com reports. The fund purchased 4,870 shares of the electric vehicle producer’s stock, valued at approximately $1,274,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares in the last quarter. Gladstone Institutional Advisory LLC raised its stake in Tesla by 6.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock valued at $11,349,000 after purchasing an additional 2,664 shares in the last quarter. Morse Asset Management Inc raised its stake in Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares in the last quarter. Principal Financial Group Inc. raised its stake in Tesla by 5.6% in the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after purchasing an additional 194,796 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in Tesla by 34.1% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after purchasing an additional 1,059 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock valued at $19,211,821 in the last quarter. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $296.91 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.75. The stock has a market cap of $953.10 billion, a PE ratio of 81.35, a price-to-earnings-growth ratio of 9.51 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company’s fifty day moving average price is $237.23 and its 200-day moving average price is $213.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during 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%. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. On average, equities analysts expect that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Thursday, October 24th. Roth Mkm reissued a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. Barclays lifted their price target on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research note on Thursday, October 24th. Finally, Argus restated a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $222.03.

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.