Morse Asset Management Inc Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Morse Asset Management Inc increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 46.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,762 shares of the electric vehicle producer’s stock after buying an additional 2,793 shares during the quarter. Morse Asset Management Inc’s holdings in Tesla were worth $2,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TSLA. Valley Wealth Managers Inc. purchased a new stake in Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC raised 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 worth $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter worth about $29,000. Clean Yield Group lifted its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in Tesla during the third quarter worth $35,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Stifel Nicolaus raised their target price on shares of Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a research note on Monday. Canaccord Genuity Group upped their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday. Nine analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $243.75.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $36,761,200. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is owned by company insiders.

Tesla Stock Down 1.6 %

Shares of NASDAQ:TSLA opened at $351.42 on Wednesday. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 96.28, a PEG ratio of 11.60 and a beta of 2.36. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.93. The firm’s 50-day simple moving average is $278.63 and its 200-day simple moving average is $235.10. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the business posted $0.53 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Tesla Company 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.