Cannell & Co. Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Cannell & Co. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 200.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,050 shares of the electric vehicle producer’s stock after acquiring an additional 700 shares during the period. Cannell & Co.’s holdings in Tesla were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of TSLA. Cranbrook Wealth Management LLC raised its holdings in Tesla by 224.1% in the 3rd quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 65 shares during the period. Coston McIsaac & Partners raised its holdings in Tesla by 200.0% in the 3rd quarter. Coston McIsaac & Partners now owns 96 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 64 shares during the period. Horan Securities Inc. raised its holdings in Tesla by 164.3% in the 2nd quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 23 shares during the period. West Oak Capital LLC purchased a new stake in Tesla in the 3rd quarter valued at about $27,000. Finally, Norway Savings Bank raised its holdings in Tesla by 200.0% in the 3rd quarter. Norway Savings Bank now owns 105 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 70 shares during the period. Hedge funds and other institutional investors own 43.00% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 1,312 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total value of $233,627.84. Following the completion of the sale, the senior vice president now owns 64,259 shares in the company, valued at $11,442,600.13. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Tesla news, SVP Andrew D. Baglino sold 1,312 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total value of $233,627.84. Following the completion of the sale, the senior vice president now owns 64,259 shares in the company, valued at $11,442,600.13. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total value of $2,414,475.00. Following the completion of the sale, the senior vice president now owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,172,833 shares of company stock worth $4,492,567,309. 25.10% of the stock is owned by insiders.

Tesla Stock Performance

Shares of TSLA opened at $143.89 on Wednesday. The stock has a 50 day moving average price of $148.77 and a 200 day moving average price of $220.41. The company has a quick ratio of 1.04, a current ratio of 1.46 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $454.37 billion, a price-to-earnings ratio of 44.46, a price-to-earnings-growth ratio of 1.18 and a beta of 2.02. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $384.29.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSLA. StockNews.com initiated coverage on shares of Tesla in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. The Goldman Sachs Group dropped their target price on Tesla from $235.00 to $205.00 and set a “buy” rating for the company in a research report on Monday, January 2nd. Wolfe Research dropped their target price on Tesla from $360.00 to $288.00 and set an “outperform” rating for the company in a research report on Thursday, October 20th. Piper Sandler dropped their target price on Tesla from $340.00 to $300.00 and set an “overweight” rating for the company in a research report on Wednesday, January 18th. Finally, Morgan Stanley dropped their target price on Tesla from $330.00 to $250.00 and set an “overweight” rating for the company in a research report on Wednesday, December 28th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $216.60.

Tesla Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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