Genesee Capital Advisors LLC Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Genesee Capital Advisors LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, Holdings Channel reports. The fund acquired 407 shares of the electric vehicle producer’s stock, valued at approximately $316,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. NZS Capital LLC purchased a new position in shares of Tesla during the second quarter valued at approximately $9,359,000. Geode Capital Management LLC lifted its stake in shares of Tesla by 2.8% during the second quarter. Geode Capital Management LLC now owns 12,311,100 shares of the electric vehicle producer’s stock valued at $8,342,557,000 after buying an additional 339,745 shares during the period. Stevard LLC purchased a new position in Tesla during the second quarter worth approximately $1,907,000. Brookstone Capital Management purchased a new position in Tesla during the second quarter worth approximately $7,747,000. Finally, Capital Asset Advisory Services LLC raised its stake in Tesla by 33.7% during the second quarter. Capital Asset Advisory Services LLC now owns 3,100 shares of the electric vehicle producer’s stock worth $2,107,000 after purchasing an additional 781 shares during the period. 39.18% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on TSLA. Sanford C. Bernstein increased their price target on shares of Tesla from $180.00 to $300.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 17th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Tesla from $900.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, October 21st. Robert W. Baird increased their price target on shares of Tesla from $764.00 to $888.00 and gave the stock an “outperform” rating in a research note on Thursday, October 21st. Piper Sandler increased their price target on shares of Tesla from $1,200.00 to $1,300.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 27th. Finally, Canaccord Genuity raised their target price on shares of Tesla from $940.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 21st. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $754.40.

In other news, CEO Elon Musk sold 676,812 shares of Tesla stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $1,185.89, for a total value of $802,624,582.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Vaibhav Taneja sold 1,767 shares of Tesla stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $752.90, for a total transaction of $1,330,374.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,573,331 shares of company stock valued at $2,788,446,389. 25.00% of the stock is owned by company insiders.

Shares of TSLA stock opened at $1,116.00 on Thursday. The firm has a market cap of $1.12 trillion, a P/E ratio of 361.17, a P/E/G ratio of 6.72 and a beta of 2.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.39 and a quick ratio of 1.10. Tesla, Inc. has a 1-year low of $539.49 and a 1-year high of $1,243.49. The firm has a fifty day moving average of $940.15 and a two-hundred day moving average of $759.48.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, October 19th. The electric vehicle producer reported $1.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.90. The company had revenue of $13.76 billion during the quarter, compared to analyst estimates of $13.70 billion. Tesla had a net margin of 7.40% and a return on equity of 13.81%. The firm’s revenue for the quarter was up 56.8% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 4.1 EPS for the current year.

Tesla Company Profile

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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