Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Charles Schwab Investment Management Inc.

by · The Markets Daily

Charles Schwab Investment Management Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,545,824 shares of the electric vehicle producer’s stock after purchasing an additional 301,968 shares during the quarter. Tesla accounts for about 0.8% of Charles Schwab Investment Management Inc.’s investment portfolio, making the stock its 21st largest holding. Charles Schwab Investment Management Inc. owned about 0.52% of Tesla worth $4,328,884,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Connable Office Inc. increased its stake in Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares in the last quarter. Holistic Financial Partners boosted its holdings in 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 acquiring an additional 40 shares during the last quarter. Integris Wealth Management LLC raised its holdings in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its position in shares of Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares in the last quarter. Finally, Altman Advisors Inc. grew its position in Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after purchasing an additional 43 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Down 0.7 %

Tesla stock opened at $339.67 on Thursday. The company has a market capitalization of $1.09 trillion, a PE ratio of 93.71, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $358.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a 50 day moving average price of $259.42 and a 200 day moving average price of $224.12.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TSLA shares. Roth Mkm reiterated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a report on Thursday, October 24th. Stifel Nicolaus upped their target price on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $230.18.

Read Our Latest Stock Report on Tesla

Tesla Company Profile

(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.

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