Mainsail Asset Management LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Mainsail Asset Management LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,586 shares of the electric vehicle producer’s stock after purchasing an additional 226 shares during the quarter. Tesla makes up approximately 0.7% of Mainsail Asset Management LLC’s investment portfolio, making the stock its 15th largest position. Mainsail Asset Management LLC’s holdings in Tesla were worth $938,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla in the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Clean Yield Group raised its stake in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Finally, M&R Capital Management Inc. raised its stake in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stifel Nicolaus began coverage on shares of Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target for the company. Guggenheim raised their target price on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Friday, October 11th. Argus reiterated a “buy” rating and set a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Finally, Glj Research restated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Thursday. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $210.72.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $220.70 on Friday. The firm has a market capitalization of $703.86 billion, a PE ratio of 56.30, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock’s 50-day simple moving average is $227.67 and its 200-day simple moving average is $205.39.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 in the last ninety days. 25.10% of the stock is currently owned by company insiders.

About Tesla

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.