Connecticut Wealth Management LLC Purchases 1,258 Shares of Tesla, Inc. (NASDAQ:TSLA)

Connecticut Wealth Management LLC boosted its position in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 192.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,911 shares of the electric vehicle producer’s stock after acquiring an additional 1,258 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Tesla were worth $507,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Jennison Associates LLC increased its stake in Tesla by 200.2% in the third quarter. Jennison Associates LLC now owns 29,557,607 shares of the electric vehicle producer’s stock valued at $7,840,155,000 after acquiring an additional 19,711,687 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Tesla by 196.4% during the third quarter. Baillie Gifford & Co. now owns 27,876,833 shares of the electric vehicle producer’s stock worth $7,394,330,000 after buying an additional 18,472,529 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Tesla by 189.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,366,820 shares of the electric vehicle producer’s stock worth $2,484,549,000 after buying an additional 6,125,732 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Tesla by 105.0% during the third quarter. SG Americas Securities LLC now owns 105,194 shares of the electric vehicle producer’s stock worth $27,903,000 after buying an additional 2,209,304 shares during the last quarter. Finally, New York State Teachers Retirement System grew its stake in shares of Tesla by 217.2% during the third quarter. New York State Teachers Retirement System now owns 3,159,080 shares of the electric vehicle producer’s stock worth $837,946,000 after buying an additional 2,163,098 shares during the last quarter. 43.00% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of Tesla stock opened at $143.89 on Wednesday. The company has a market cap of $454.37 billion, a PE ratio of 44.46, a price-to-earnings-growth ratio of 1.18 and a beta of 2.02. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $384.29. The business has a 50 day moving average price of $148.77 and a 200-day moving average price of $220.41. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05.

Insider Activity

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total value of $2,414,475.00. Following the completion of the transaction, the senior vice president now directly owns 62,988 shares of the company’s stock, valued at $14,484,090.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the completion of the transaction, the senior vice president now directly owns 62,988 shares of the company’s stock, valued at $14,484,090.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Andrew D. Baglino sold 1,312 shares of the stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $178.07, for a total value of $233,627.84. Following the transaction, the senior vice president now directly owns 64,259 shares of the company’s stock, valued at $11,442,600.13. The disclosure for this sale can be found here. Insiders sold a total of 24,172,833 shares of company stock valued at $4,492,567,309 over the last three months. Corporate insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of Tesla from $330.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 28th. JPMorgan Chase & Co. decreased their target price on shares of Tesla from $150.00 to $125.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 3rd. Edward Jones raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, January 5th. The Goldman Sachs Group reduced their price objective on shares of Tesla from $235.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, January 2nd. Finally, Wolfe Research reduced their price objective on shares of Tesla from $360.00 to $288.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $216.60.

Tesla Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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