Balefire LLC Buys 4,408 Shares of Tesla, Inc. $TSLA

Balefire LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 71.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,612 shares of the electric vehicle producer’s stock after acquiring an additional 4,408 shares during the quarter. Tesla comprises approximately 0.9% of Balefire LLC’s portfolio, making the stock its 21st largest holding. Balefire LLC’s holdings in Tesla were worth $4,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Holos Integrated Wealth LLC raised its position in shares of Tesla by 10.8% during the second quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer’s stock worth $102,000 after purchasing an additional 30 shares during the period. Dominguez Wealth Management Solutions Inc. increased its stake in Tesla by 4.5% during the 3rd quarter. Dominguez Wealth Management Solutions Inc. now owns 704 shares of the electric vehicle producer’s stock valued at $313,000 after purchasing an additional 30 shares in the last quarter. First Merchants Corp raised its holdings in Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after buying an additional 31 shares during the last quarter. Kaye Capital Management lifted its stake in shares of Tesla by 3.1% in the second quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer’s stock valued at $333,000 after buying an additional 31 shares in the last quarter. Finally, Spectrum Wealth Advisory Group LLC grew its holdings in shares of Tesla by 3.4% during the second quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer’s stock valued at $299,000 after buying an additional 31 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. UBS Group reaffirmed a “sell” rating on shares of Tesla in a research report on Friday, November 7th. CICC Research lifted their target price on Tesla from $450.00 to $500.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays reissued a “neutral” rating and issued a $350.00 price target on shares of Tesla in a research report on Monday, December 1st. BNP Paribas lifted their price objective on shares of Tesla from $307.00 to $313.00 in a report on Monday, December 1st. Finally, Roth Capital set a $505.00 target price on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $402.25.

Tesla Price Performance

TSLA opened at $483.37 on Friday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $495.28. The firm has a 50-day moving average of $438.62 and a 200 day moving average of $379.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a market cap of $1.61 trillion, a P/E ratio of 322.25, a PEG ratio of 11.68 and a beta of 1.87.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business 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 firm posted $0.72 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,637 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the transaction, the chief financial officer owned 13,757 shares of the company’s stock, valued at $6,107,145.01. This represents a 16.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the sale, the director directly owned 1,391,615 shares of the company’s stock, valued at approximately $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. 19.90% of the stock is currently owned by corporate insiders.

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.