Guggenheim Capital LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 380.0% in the third quarter, Holdings Channel.com reports. The fund owned 196,461 shares of the electric vehicle producer’s stock after purchasing an additional 155,534 shares during the quarter. Tesla accounts for approximately 0.6% of Guggenheim Capital LLC’s portfolio, making the stock its 14th largest position. Guggenheim Capital LLC’s holdings in Tesla were worth $84,284,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Sandy Spring Bank raised its position in Tesla by 1,259.2% in the third quarter. Sandy Spring Bank now owns 2,433 shares of the electric vehicle producer’s stock worth $1,044,000 after purchasing an additional 2,254 shares in the last quarter. FineMark National Bank & Trust grew its stake in shares of Tesla by 330.1% in the 3rd quarter. FineMark National Bank & Trust now owns 5,565 shares of the electric vehicle producer’s stock valued at $2,387,000 after purchasing an additional 4,271 shares during the period. Roosevelt Investment Group Inc. raised its holdings in shares of Tesla by 405.0% in the 3rd quarter. Roosevelt Investment Group Inc. now owns 2,525 shares of the electric vehicle producer’s stock worth $1,083,000 after buying an additional 2,025 shares in the last quarter. HNP Capital LLC bought a new position in shares of Tesla during the 3rd quarter worth approximately $230,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in Tesla in the 3rd quarter valued at $16,228,000. Institutional investors and hedge funds own 48.22% of the company’s stock.
In other news, CFO Zachary Kirkhorn sold 1,250 shares of Tesla stock in a transaction on Tuesday, November 17th. The stock was sold at an average price of $460.26, for a total transaction of $575,325.00. Following the sale, the chief financial officer now directly owns 55,624 shares in the company, valued at approximately $25,601,502.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Andrew D. Baglino sold 1,500 shares of Tesla stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $387.44, for a total value of $581,160.00. Following the sale, the senior vice president now owns 21,837 shares in the company, valued at $8,460,527.28. The disclosure for this sale can be found here. Insiders have sold 164,474 shares of company stock valued at $69,657,795 over the last ninety days. 23.00% of the stock is currently owned by company insiders.
Shares of TSLA stock traded down $7.32 on Monday, hitting $578.44. The stock had a trading volume of 1,125,618 shares, compared to its average volume of 77,096,680. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.25 and a quick ratio of 0.92. The business has a 50 day moving average of $440.48 and a 200 day moving average of $331.54. Tesla, Inc. has a 12-month low of $65.45 and a 12-month high of $601.50. The stock has a market cap of $555.24 billion, a price-to-earnings ratio of 1,525.42, a price-to-earnings-growth ratio of 20.46 and a beta of 1.68.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.54. Tesla had a net margin of 1.43% and a return on equity of 4.19%. The firm had revenue of $8.77 billion during the quarter, compared to analyst estimates of $8.29 billion. During the same quarter last year, the business posted $0.37 EPS. As a group, research analysts expect that Tesla, Inc. will post 0.62 earnings per share for the current fiscal year.
A number of research analysts have issued reports on the company. The Goldman Sachs Group began coverage on Tesla in a report on Tuesday, November 3rd. They set a “neutral” rating for the company. Royal Bank of Canada assumed coverage on shares of Tesla in a research report on Thursday, October 22nd. They set a “sell” rating and a $339.00 price objective for the company. They noted that the move was a valuation call. Morgan Stanley raised Tesla from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $360.00 to $540.00 in a research note on Wednesday, November 18th. ValuEngine raised Tesla from a “hold” rating to a “buy” rating in a research note on Monday, October 12th. Finally, DZ Bank reissued a “sell” rating on shares of Tesla in a research note on Monday, August 31st. Eleven equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $277.78.
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive; and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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