Tesla, Inc. (NASDAQ:TSLA) Position Increased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 61.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,241 shares of the electric vehicle producer’s stock after acquiring an additional 43,950 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Tesla were worth $30,151,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the third quarter worth $29,000. Bank & Trust Co acquired a new position in Tesla during the second quarter worth $25,000. Clean Yield Group increased its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in Tesla during the second quarter worth $26,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 4.0 %

Shares of NASDAQ:TSLA opened at $338.59 on Tuesday. The company’s 50-day moving average price is $266.31 and its two-hundred day moving average price is $227.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a one year low of $138.80 and a one year high of $361.93. The stock has a market capitalization of $1.09 trillion, a PE ratio of 92.76, a price-to-earnings-growth ratio of 11.45 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. On average, equities analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on TSLA shares. Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Friday, October 11th. HSBC reissued a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research report on Wednesday, October 23rd. Finally, Canaccord Genuity Group raised their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $231.06.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is owned by company 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.