GAMMA Investing LLC Purchases 9,342 Shares of Tesla, Inc. (NASDAQ:TSLA)

GAMMA Investing LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 35.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,709 shares of the electric vehicle producer’s stock after buying an additional 9,342 shares during the quarter. Tesla makes up about 1.2% of GAMMA Investing LLC’s investment portfolio, making the stock its 10th largest holding. GAMMA Investing LLC’s holdings in Tesla were worth $14,421,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Valley Wealth Managers Inc. bought a new stake in Tesla during the 2nd quarter valued at approximately $26,000. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter worth $29,000. Clean Yield Group increased its position 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 acquiring an additional 48 shares during the period. Finally, Peterson Financial Group Inc. acquired a new position in Tesla during the 3rd quarter valued at $35,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Down 6.1 %

Shares of NASDAQ TSLA opened at $379.28 on Friday. The company’s 50 day simple moving average is $359.54 and its 200 day simple moving average is $271.59. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.22 trillion, a P/E ratio of 103.91, a P/E/G ratio of 10.80 and a beta of 2.36.

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 the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 514,886 shares of company stock valued at $169,393,831. 20.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TSLA shares. Canaccord Genuity Group raised their price target 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. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Mkm raised Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. HSBC restated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, Bank of America lifted their price target on shares of Tesla from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $275.75.

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.