Highland Capital Management LLC boosted its holdings in shares of Tesla Inc (NASDAQ:TSLA) by 80.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,216 shares of the electric vehicle producer’s stock after purchasing an additional 1,436 shares during the period. Highland Capital Management LLC’s holdings in Tesla were worth $852,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Northwest Wealth Management LLC acquired a new stake in shares of Tesla in the 2nd quarter valued at $103,000. Stelac Advisory Services LLC acquired a new stake in shares of Tesla in the 2nd quarter valued at $114,000. BerganKDV Wealth Management LLC acquired a new stake in shares of Tesla in the 2nd quarter valued at $124,000. Mogy Joel R Investment Counsel Inc. acquired a new stake in shares of Tesla in the 2nd quarter valued at $201,000. Finally, Goodwin Daniel L acquired a new stake in shares of Tesla in the 2nd quarter valued at $206,000. 62.17% of the stock is owned by hedge funds and other institutional investors.
TSLA stock traded down $0.89 during midday trading on Friday, hitting $350.51. 5,093,378 shares of the company’s stock were exchanged, compared to its average volume of 10,825,698. The company has a current ratio of 0.81, a quick ratio of 0.37 and a debt-to-equity ratio of 1.82. The firm has a market cap of $59.79 billion, a PE ratio of -30.53 and a beta of 0.48. Tesla Inc has a one year low of $244.59 and a one year high of $387.46.
Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 24th. The electric vehicle producer reported $2.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.77) by $4.67. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $5.67 billion. Tesla had a negative return on equity of 34.27% and a negative net margin of 10.22%. On average, analysts forecast that Tesla Inc will post -5.09 earnings per share for the current year.
Several research firms have recently commented on TSLA. Jefferies Financial Group lifted their target price on Tesla from $250.00 to $360.00 and gave the company a “neutral” rating in a research note on Wednesday, August 8th. Nomura reissued a “neutral” rating and issued a $450.00 target price (up from $400.00) on shares of Tesla in a research note on Tuesday, September 11th. Morgan Stanley set a $291.00 target price on Tesla and gave the company a “neutral” rating in a research note on Monday, August 27th. JMP Securities reissued a “buy” rating and issued a $412.00 target price on shares of Tesla in a research note on Thursday, October 25th. Finally, Evercore ISI set a $299.00 target price on Tesla and gave the company a “hold” rating in a research note on Thursday, October 4th. Thirteen research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Tesla presently has an average rating of “Hold” and an average price target of $318.58.
In other Tesla news, insider Jeffrey B. Straubel sold 15,000 shares of Tesla stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $348.44, for a total transaction of $5,226,600.00. 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 Tesla stock in a transaction on Monday, October 29th. The shares were acquired at an average price of $334.98 per share, for a total transaction of $9,997,143.12. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 18,875 shares of company stock worth $6,444,610. Corporate insiders own 22.80% of the company’s stock.
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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 firm operates through Automotive, and Energy Generation and Storage segments.
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