Atreides Management LP Has $148.89 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Atreides Management LP lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 19.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 569,075 shares of the electric vehicle producer’s stock after selling 133,630 shares during the period. Tesla comprises about 3.8% of Atreides Management LP’s portfolio, making the stock its 5th largest holding. Atreides Management LP’s holdings in Tesla were worth $148,887,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Connable Office Inc. grew its position in shares of Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after acquiring an additional 38 shares during the period. Holistic Financial Partners lifted its stake in shares of Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after buying an additional 40 shares during the last quarter. Integris Wealth Management LLC lifted its stake in shares of Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after buying an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its stake in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the last quarter. Finally, Altman Advisors Inc. lifted its stake in shares of Tesla by 0.4% during the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after buying an additional 43 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TSLA shares. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a research note on Thursday, October 24th. Stifel Nicolaus raised their target price on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $231.06.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock valued at $92,956,692 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Tesla Trading Up 3.7 %

Shares of Tesla stock opened at $345.16 on Monday. The firm has a market capitalization of $1.11 trillion, a PE ratio of 94.56, a price-to-earnings-growth ratio of 11.21 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $274.55 and its 200 day moving average is $232.59. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the firm posted $0.53 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Tesla 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.