Centaurus Financial Inc. Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

Centaurus Financial Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 13.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,650 shares of the electric vehicle producer’s stock after acquiring an additional 3,180 shares during the period. Centaurus Financial Inc.’s holdings in Tesla were worth $6,973,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Tesla by 0.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after buying an additional 331 shares during the period. 1832 Asset Management L.P. raised its stake in Tesla by 23.5% during the 1st quarter. 1832 Asset Management L.P. now owns 8,760 shares of the electric vehicle producer’s stock worth $1,540,000 after acquiring an additional 1,669 shares during the period. Earnest Partners LLC boosted its holdings in Tesla by 26.0% in the 1st quarter. Earnest Partners LLC now owns 1,395 shares of the electric vehicle producer’s stock worth $245,000 after buying an additional 288 shares during the period. Ascent Group LLC boosted its stake in shares of Tesla by 12.0% in the first quarter. Ascent Group LLC now owns 9,901 shares of the electric vehicle producer’s stock worth $1,740,000 after acquiring an additional 1,058 shares during the period. Finally, Silvercrest Asset Management Group LLC lifted its holdings in shares of Tesla by 69.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 55,245 shares of the electric vehicle producer’s stock worth $9,712,000 after buying an additional 22,624 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Wolfe Research started coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Royal Bank of Canada upped their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Wells Fargo & Company upped their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Barclays increased their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Canaccord Genuity Group lifted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $230.18.

Read Our Latest Stock Analysis on Tesla

Tesla Stock Up 3.8 %

Tesla stock opened at $352.56 on Friday. The stock has a 50 day moving average of $264.07 and a two-hundred day moving average of $226.43. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $361.53. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 96.59, a PEG ratio of 11.03 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.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. As a group, research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now 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 a total of 301,187 shares of company stock worth $92,956,692 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

About Tesla

(Free Report)

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.

Further Reading

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