Ascent Group LLC Has $3.65 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Ascent Group LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,937 shares of the electric vehicle producer’s stock after purchasing an additional 1,083 shares during the quarter. Ascent Group LLC’s holdings in Tesla were worth $3,646,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TSLA. Vinva Investment Management Ltd grew its holdings in Tesla by 59.2% during the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after purchasing an additional 43,685 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares during the period. Tyler Stone Wealth Management lifted its position in Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after acquiring an additional 4,929 shares during the last quarter. Fred Alger Management LLC boosted its holdings in Tesla by 187.0% during the third quarter. Fred Alger Management LLC now owns 725,282 shares of the electric vehicle producer’s stock valued at $189,756,000 after acquiring an additional 472,565 shares during the period. Finally, Savvy Advisors Inc. grew its position in shares of Tesla by 24.2% in the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after purchasing an additional 1,467 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $345.16 on Monday. The stock has a market capitalization of $1.11 trillion, a PE ratio of 94.56, a price-to-earnings-growth ratio of 11.21 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a 50 day moving average price of $274.55 and a 200 day moving average price of $232.59. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.93.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for 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%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TSLA. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research note on Friday, October 11th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Piper Sandler boosted their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Guggenheim increased their target price on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $231.06.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by insiders.

Tesla 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.