Gemmer Asset Management LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Gemmer Asset Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,839 shares of the electric vehicle producer’s stock after purchasing an additional 179 shares during the quarter. Gemmer Asset Management LLC’s holdings in Tesla were worth $1,266,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bank & Trust Co purchased a new position in shares of Tesla in the 2nd quarter valued at about $25,000. Clean Yield Group increased its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the 2nd quarter valued at about $26,000. Finally, M&R Capital Management Inc. increased its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 0.5 %

NASDAQ TSLA opened at $270.60 on Monday. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The company’s 50 day moving average price is $230.53 and its 200 day moving average price is $207.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market capitalization of $868.64 billion, a price-to-earnings ratio of 73.75, a PEG ratio of 7.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research analyst reports. William Blair began coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Bank of America increased their price objective on shares of Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday. Truist Financial increased their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday. Guggenheim increased their price objective on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research note on Thursday. Finally, Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $219.00.

About Tesla

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.