Glenmede Trust Co. NA Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Glenmede Trust Co. NA raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 34.1% in the third quarter, Holdings Channel.com reports. The fund owned 50,899 shares of the electric vehicle producer’s stock after buying an additional 12,955 shares during the quarter. Glenmede Trust Co. NA’s holdings in Tesla were worth $13,317,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its holdings in Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after buying an additional 1,741 shares during the period. Tyler Stone Wealth Management lifted its position in Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after acquiring an additional 4,929 shares in the last quarter. Savvy Advisors Inc. boosted its holdings in Tesla by 24.2% in the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after acquiring an additional 1,467 shares during the period. Blackhawk Capital Partners LLC. grew its position in Tesla by 102.0% in the third quarter. Blackhawk Capital Partners LLC. now owns 5,598 shares of the electric vehicle producer’s stock valued at $1,465,000 after acquiring an additional 2,827 shares in the last quarter. Finally, West Family Investments Inc. raised its stake in shares of Tesla by 20.8% during the third quarter. West Family Investments Inc. now owns 9,026 shares of the electric vehicle producer’s stock valued at $2,361,000 after purchasing an additional 1,556 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 1.6 %

Tesla stock opened at $332.89 on Friday. The firm’s 50 day moving average price is $272.41 and its two-hundred day moving average price is $230.60. The firm has a market cap of $1.07 trillion, a PE ratio of 91.20, a P/E/G ratio of 10.81 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $361.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the company earned $0.53 earnings per share. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 in the last three months. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. Wedbush restated an “outperform” rating and issued a $400.00 target price on shares of Tesla in a research note on Monday, November 18th. William Blair started coverage on Tesla in a research note on Thursday, August 29th. They set an “outperform” rating for the company. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. Barclays raised their price objective on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Stifel Nicolaus lifted their price objective on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $231.06.

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.