World Equity Group Inc. Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

World Equity Group Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 7.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,395 shares of the electric vehicle producer’s stock after purchasing an additional 439 shares during the period. World Equity Group Inc.’s holdings in Tesla were worth $1,673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Tesla by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after acquiring an additional 206,248 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its holdings in shares of Tesla by 6.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock valued at $11,349,000 after acquiring an additional 2,664 shares in the last quarter. Morse Asset Management Inc raised its holdings in Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after purchasing an additional 3,462 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Tesla by 34.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock worth $1,087,000 after purchasing an additional 1,059 shares during the period. Finally, NewEdge Advisors LLC raised its stake in shares of Tesla by 12.9% during the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after buying an additional 27,130 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 target price on shares of Tesla in a report on Tuesday, September 10th. Royal Bank of Canada increased their price target on shares of Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. HSBC reiterated a “reduce” rating and set a $124.00 target price on shares of Tesla in a report on Friday, October 11th. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research report on Wednesday, October 23rd. Finally, Barclays lifted their price objective on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $219.45.

Check Out Our Latest Research Report on Tesla

Tesla Trading Down 1.1 %

Tesla stock traded down $2.83 during midday trading on Monday, reaching $246.15. The stock had a trading volume of 22,727,165 shares, compared to its average volume of 93,810,719. The firm’s fifty day simple moving average is $234.14 and its two-hundred day simple moving average is $211.15. 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 firm has a market cap of $790.16 billion, a price-to-earnings ratio of 68.21, a PEG ratio of 8.24 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $273.54.

Tesla (NASDAQ:TSLA – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,297 shares of company stock valued at $3,065,866 over the last ninety days. 20.70% of the stock is owned by company insiders.

About Tesla

(Free Report)

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.

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