Shares of Tesla, Inc. (NASDAQ:TSLA) bought by M&R Capital Management Inc.

M&R Capital Management Inc. increased its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 263.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138 shares of the electric vehicle maker’s stock after acquiring an additional 100 shares during the quarter. The holdings of M&R Capital Management Inc. holdings in Tesla were worth $36,000 at the end of the most recent quarter.

A number of other hedge funds have recently modified their positions in TSLA. 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 maker’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle maker’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle maker’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC boosted its position in shares of Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle maker’s stock valued at $1,051,613,000 after buying an additional 135,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Tesla by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle maker’s stock worth $981,443,000 after purchasing an additional 412,872 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s shares.

Insiders place their bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 over the last ninety days. 25.10% of the shares are currently owned by company insiders.

Tesla trading down 3.5%

Shares of Tesla opened at $249.02 on Thursday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The stock has a market cap of $795.53 billion, a PE ratio of 63.53, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29. The firm has a 50-day simple moving average of $222.99 and a 200-day simple moving average of $200.58. 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 (NASDAQ:TSLA – Get Free Report ) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle maker reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 2.3% compared to the same quarter last year. In the same period last year, the company posted earnings of $0.78 per share. As a group, equities research analysts expect Tesla, Inc. to record 1.75 EPS for the current fiscal year.

Changes in Analyst Ratings

Several research analysts have weighed in on TSLA shares. Argus reissued a “buy” rating and set a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Guggenheim raised their target price on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. KGI Securities restated a “neutral” rating and set a $236.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Piper Sandler lifted their price target on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Monday. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $209.90.

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About Tesla

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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 Power Generation and Storage. The Auto segment offers electric vehicles as well as sells auto regulatory credits; and non-warranty aftermarket vehicles, used vehicles, body and parts, supercharging, retail merchandise and vehicle insurance services.

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