Farther Finance Advisors LLC Grows Stake in Tesla, Inc. $TSLA

Farther Finance Advisors LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 25.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,164 shares of the electric vehicle producer’s stock after buying an additional 14,934 shares during the period. Farther Finance Advisors LLC’s holdings in Tesla were worth $32,538,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Tesla during the second quarter valued at approximately $11,839,824,000. Kingstone Capital Partners Texas LLC grew its holdings in Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares in the last quarter. Vanguard Group Inc. increased its stake in Tesla by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after buying an additional 4,502,976 shares during the period. Amundi lifted its holdings in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in Tesla in the 1st quarter valued at about $469,339,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

Analysts Set New Price Targets

TSLA has been the topic of a number of analyst reports. TD Cowen lifted their target price on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Benchmark restated a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. DZ Bank reaffirmed a “sell” rating on shares of Tesla in a research report on Thursday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Finally, Mizuho lifted their price target on shares of Tesla from $475.00 to $530.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $414.50.

Check Out Our Latest Analysis on Tesla

Tesla Stock Performance

Shares of TSLA opened at $485.56 on Wednesday. The stock has a market capitalization of $1.61 trillion, a PE ratio of 323.71, a price-to-earnings-growth ratio of 12.35 and a beta of 1.87. The business’s fifty day moving average price is $442.16 and its 200 day moving average price is $383.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $443.93, for a total value 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 trade represents a 16.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 19.90% of the company’s stock.

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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