Simplicity Solutions LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Simplicity Solutions LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 2.0% during the 3rd quarter, Holdings Channel reports. The fund owned 83,868 shares of the electric vehicle producer’s stock after purchasing an additional 1,672 shares during the period. Tesla makes up about 0.7% of Simplicity Solutions LLC’s holdings, making the stock its 26th largest holding. Simplicity Solutions LLC’s holdings in Tesla were worth $20,911,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. acquired a new position in Tesla in the third quarter valued at approximately $25,000. Halpern Financial Inc. grew its position in shares of Tesla by 1,111.1% during the 3rd quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Alpha Paradigm Partners LLC acquired a new position in Tesla during the third quarter worth $27,000. Mendota Financial Group LLC increased its stake in shares of Tesla by 3,733.3% during the second quarter. Mendota Financial Group LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after purchasing an additional 112 shares in the last quarter. Finally, MayTech Global Investments LLC acquired a new position in shares of Tesla during the fourth quarter valued at approximately $30,000. 41.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $253.98, for a total transaction of $1,015,920.00. Following the completion of the transaction, the chief financial officer now owns 104,716 shares of the company’s stock, valued at $26,595,769.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Xiaotong Zhu sold 1,049 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $244.34, for a total value of $256,312.66. Following the completion of the sale, the senior vice president now owns 61,124 shares in the company, valued at $14,935,038.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $253.98, for a total value of $1,015,920.00. Following the completion of the sale, the chief financial officer now directly owns 104,716 shares of the company’s stock, valued at $26,595,769.68. The disclosure for this sale can be found here. Insiders sold a total of 23,722 shares of company stock worth $5,526,538 in the last three months. 25.10% of the stock is owned by insiders.

Tesla Stock Down 1.3 %

TSLA stock traded down $3.49 during trading on Thursday, reaching $257.95. The stock had a trading volume of 69,585,568 shares, compared to its average volume of 137,323,734. The firm has a fifty day moving average price of $232.22 and a 200 day moving average price of $248.37. The company has a current ratio of 1.69, a quick ratio of 1.18 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $820.00 billion, a P/E ratio of 84.06, a PEG ratio of 5.18 and a beta of 2.26. Tesla, Inc. has a 1-year low of $101.81 and a 1-year high of $299.29.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings results on Wednesday, October 18th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). Tesla had a net margin of 11.21% and a return on equity of 21.47%. The business had revenue of $23.35 billion during the quarter, compared to analysts’ expectations of $24.19 billion. During the same period in the prior year, the company posted $0.95 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 2.6 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on Tesla from $120.00 to $135.00 in a research note on Tuesday, October 3rd. Wedbush upped their target price on shares of Tesla from $310.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, December 22nd. UBS Group lowered their price target on shares of Tesla from $290.00 to $266.00 and set a “neutral” rating for the company in a report on Tuesday, October 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $275.00 price objective on shares of Tesla in a research report on Monday, September 18th. Finally, Guggenheim boosted their target price on Tesla from $125.00 to $132.00 and gave the stock a “sell” rating in a research note on Friday, December 15th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $234.24.

Check Out Our Latest Stock Report on Tesla

About Tesla

(Free Report)

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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