Sigma Investment Counselors Inc. Has $1.52 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Sigma Investment Counselors Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,822 shares of the electric vehicle producer’s stock after selling 252 shares during the period. Sigma Investment Counselors Inc.’s holdings in Tesla were worth $1,523,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TSLA. Vanguard Group Inc. lifted its position in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. Finally, ARK Investment Management LLC lifted its holdings in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after acquiring an additional 135,966 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, 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. 25.10% of the stock is owned by insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $269.19 on Friday. The company’s 50-day moving average is $229.47 and its two-hundred day moving average is $206.79. The firm has a market capitalization of $858.50 billion, a price-to-earnings ratio of 68.67, a PEG ratio of 6.24 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. UBS Group downgraded Tesla from a “neutral” rating to a “sell” rating and lifted their price objective for the stock from $147.00 to $197.00 in a report on Friday, July 12th. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research report on Wednesday, July 24th. HSBC reissued a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Royal Bank of Canada lifted their target price on Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research note on Wednesday. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $219.00.

Check Out Our Latest Report on Tesla

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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