GAMMA Investing LLC Grows Stock Holdings in Tesla, Inc. $TSLA

GAMMA Investing LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.8% in the third quarter, HoldingsChannel.com reports. The fund owned 52,779 shares of the electric vehicle producer’s stock after buying an additional 4,723 shares during the period. Tesla comprises approximately 1.3% of GAMMA Investing LLC’s portfolio, making the stock its 10th biggest holding. GAMMA Investing LLC’s holdings in Tesla were worth $23,472,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after purchasing an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Tesla by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after buying an additional 1,269,304 shares during the last quarter. Norges Bank acquired a new stake in Tesla in the second quarter valued at about $11,839,824,000. Legal & General Group Plc grew its position in Tesla by 5.9% in the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after acquiring an additional 1,134,678 shares during the last quarter. Finally, Amundi raised its stake in Tesla by 20.4% during the second quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock worth $6,374,284,000 after acquiring an additional 3,422,270 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 3.1%

Shares of NASDAQ:TSLA opened at $489.88 on Wednesday. The firm has a market cap of $1.63 trillion, a P/E ratio of 326.59, a P/E/G ratio of 11.88 and a beta of 1.87. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $491.50. The business has a fifty day simple moving average of $437.09 and a 200 day simple moving average of $378.24. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The business’s revenue was up 11.6% on a year-over-year basis. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. Cantor Fitzgerald set a $510.00 price target on shares of Tesla and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Melius initiated coverage on shares of Tesla in a research report on Monday, October 13th. They issued a “buy” rating and a $520.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. HSBC reiterated a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. Finally, New Street Research boosted their price objective on Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $400.86.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the completion of the sale, the chief financial officer owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares in the company, valued at $627,145,215.90. This trade represents a 3.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 19.90% of the company’s stock.

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.