Reynders McVeigh Capital Management LLC grew its holdings in Tesla Inc (NASDAQ:TSLA) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,285 shares of the electric vehicle producer’s stock after purchasing an additional 214 shares during the period. Reynders McVeigh Capital Management LLC’s holdings in Tesla were worth $605,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Honkamp Krueger Financial Services Inc. purchased a new position in shares of Tesla in the third quarter valued at about $122,000. Belpointe Asset Management LLC purchased a new position in shares of Tesla in the third quarter valued at about $131,000. Destination Wealth Management lifted its position in shares of Tesla by 156.0% in the third quarter. Destination Wealth Management now owns 512 shares of the electric vehicle producer’s stock valued at $136,000 after acquiring an additional 312 shares in the last quarter. Paradigm Asset Management Co. LLC lifted its position in shares of Tesla by 120.0% in the third quarter. Paradigm Asset Management Co. LLC now owns 550 shares of the electric vehicle producer’s stock valued at $146,000 after acquiring an additional 300 shares in the last quarter. Finally, Proffitt & Goodson Inc. purchased a new position in shares of Tesla in the third quarter valued at about $147,000. 59.29% of the stock is owned by institutional investors and hedge funds.
TSLA opened at $315.38 on Friday. The company has a market cap of $57.18 billion, a PE ratio of -27.47 and a beta of 0.59. Tesla Inc has a one year low of $244.59 and a one year high of $387.46. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 1.82.
Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 24th. The electric vehicle producer reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of ($1.77) by $4.67. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $5.67 billion. Tesla had a negative return on equity of 34.27% and a negative net margin of 10.22%. As a group, equities research analysts predict that Tesla Inc will post -5.21 earnings per share for the current year.
Several brokerages have recently commented on TSLA. Nomura restated a “neutral” rating and issued a $450.00 price objective (up from $400.00) on shares of Tesla in a research report on Tuesday, September 11th. Morgan Stanley set a $291.00 target price on Tesla and gave the stock a “neutral” rating in a research report on Monday, August 27th. JMP Securities reiterated a “buy” rating and issued a $412.00 target price on shares of Tesla in a research report on Thursday, October 25th. Evercore ISI set a $299.00 target price on Tesla and gave the stock a “hold” rating in a research report on Thursday, October 4th. Finally, Canaccord Genuity boosted their target price on Tesla from $316.00 to $323.00 and gave the stock a “hold” rating in a research report on Thursday, October 25th. Twelve investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $325.95.
In other Tesla news, insider Jerome M. Guillen sold 1,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $306.00, for a total transaction of $306,000.00. Following the completion of the sale, the insider now owns 8,598 shares in the company, valued at $2,630,988. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Elon Musk bought 29,844 shares of the stock in a transaction on Monday, October 29th. The shares were bought at an average price of $334.98 per share, with a total value of $9,997,143.12. The disclosure for this purchase can be found here. In the last three months, insiders sold 26,375 shares of company stock worth $9,029,040. 22.80% of the stock is owned by insiders.
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Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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