Coastwise Capital Group LLC Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Coastwise Capital Group LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 8.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,145 shares of the electric vehicle producer’s stock after buying an additional 562 shares during the quarter. Tesla makes up about 1.5% of Coastwise Capital Group LLC’s holdings, making the stock its 14th largest position. Coastwise Capital Group LLC’s holdings in Tesla were worth $1,869,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TSLA. Bank & Trust Co purchased a new position in Tesla in the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC boosted its stake in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC purchased a new position in Tesla during the 3rd quarter valued at about $29,000. Finally, Clean Yield Group increased its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents 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 worth $92,956,692. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TSLA. Bank of America boosted their price objective on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Guggenheim upped their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Barclays lifted their price objective on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group lifted their price target on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $231.06.

Tesla Stock Up 3.7 %

Shares of NASDAQ:TSLA opened at $345.16 on Monday. The company has a market cap of $1.11 trillion, a price-to-earnings ratio of 94.56, a PEG ratio of 11.21 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $361.93. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $274.55 and a 200 day moving average price of $232.59.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the company earned $0.53 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Tesla Company 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.