StoneX Group Inc. Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

StoneX Group Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 18,918 shares of the electric vehicle producer’s stock after purchasing an additional 523 shares during the quarter. StoneX Group Inc.’s holdings in Tesla were worth $4,950,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank & Trust Co purchased a new stake in shares of Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the second 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 bought a new stake in shares of Tesla in the 3rd quarter valued at about $29,000. Finally, Clean Yield Group boosted its holdings in Tesla by 60.0% during the 3rd 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. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on TSLA shares. HSBC reissued a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. Piper Sandler raised their price target on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Guggenheim boosted their price objective on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th. Bank of America raised their target price on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $400.00 price target on shares of Tesla in a research report on Monday, November 18th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $230.18.

Tesla Stock Performance

Shares of TSLA stock opened at $352.56 on Friday. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 96.59, a price-to-earnings-growth ratio of 11.03 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. Tesla, Inc. has a one year low of $138.80 and a one year high of $361.53. The company’s 50-day moving average is $264.07 and its 200 day moving average is $226.43.

Tesla (NASDAQ:TSLA) last posted its quarterly 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 firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 301,187 shares of company stock valued at $92,956,692. Corporate insiders own 20.70% of the company’s stock.

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.