Oppenheimer Asset Management Inc. Raises Position in Tesla, Inc. $TSLA

Oppenheimer Asset Management Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 17.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 59,155 shares of the electric vehicle producer’s stock after purchasing an additional 8,804 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tesla were worth $26,307,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new position in shares of Tesla in the third quarter worth about $29,000. Westend Capital Management LLC acquired a new position in shares of Tesla in the 3rd quarter valued at approximately $32,000. Chapman Financial Group LLC purchased a new position in shares of Tesla during the 2nd quarter valued at approximately $26,000. LGT Financial Advisors LLC acquired a new stake in shares of Tesla during the second quarter worth approximately $29,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Tesla in the second quarter worth $30,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Phillip Securities decreased their price target on Tesla from $220.00 to $215.00 and set a “sell” rating for the company in a research note on Monday, February 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $510.00 price objective on shares of Tesla in a research note on Thursday, January 29th. William Blair reaffirmed a “market perform” rating on shares of Tesla in a report on Friday, January 2nd. Finally, Roth Mkm set a $505.00 price target on Tesla and gave the company a “buy” rating in a report on Thursday, October 23rd. Seventeen research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $403.92.

Read Our Latest Stock Analysis on TSLA

Tesla Trading Up 3.5%

Shares of NASDAQ TSLA opened at $411.11 on Monday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $498.83. The company has a market cap of $1.54 trillion, a price-to-earnings ratio of 380.66, a price-to-earnings-growth ratio of 13.77 and a beta of 1.86. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $446.45 and its 200 day simple moving average is $411.71.

Tesla (NASDAQ:TSLAGet Free Report) last issued its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The firm had revenue of $24.90 billion for the quarter, compared to analyst estimates of $24.75 billion. During the same period last year, the company earned $0.73 earnings per share. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,637 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at $6,107,145.01. The trade was a 16.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $445.40, for a total transaction of $26,724,000.00. Following the completion of the sale, the director owned 577,031 shares in the company, valued at $257,009,607.40. The trade was a 9.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 119,457 shares of company stock worth $53,501,145 in the last ninety days. 19.90% of the stock is owned by insiders.

Tesla News Summary

Here are the key news stories impacting Tesla this week:

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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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