New Century Financial Group LLC Makes New $329,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

New Century Financial Group LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, Holdings Channel reports. The fund bought 1,259 shares of the electric vehicle producer’s stock, valued at approximately $329,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clean Energy Transition LLP increased its position in Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after purchasing an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC increased its position in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the period. Vanguard Group Inc. raised its stake in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after buying an additional 1,479,378 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Robert W. Baird reissued an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Glj Research reissued a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Thursday. Stifel Nicolaus assumed coverage on shares of Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price on the stock. Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Finally, HSBC restated a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $210.72.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’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 completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,661 shares of company stock worth $16,663,291. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA opened at $220.70 on Monday. The firm has a market capitalization of $705.06 billion, a P/E ratio of 61.99, a PEG ratio of 6.31 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The business has a fifty day moving average of $227.67 and a 200 day moving average of $205.65.

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

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.