Polar Asset Management Partners Inc. Purchases 4,100 Shares of Tesla, Inc. (NASDAQ:TSLA)

Polar Asset Management Partners Inc. raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 33.9% in the third quarter, Holdings Channel reports. The fund owned 16,200 shares of the electric vehicle producer’s stock after buying an additional 4,100 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Tesla were worth $4,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Connable Office Inc. boosted its holdings in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after acquiring an additional 38 shares during the period. Community Bank N.A. lifted its stake in shares of Tesla by 4.4% in the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after buying an additional 38 shares during the period. Holistic Financial Partners lifted its stake in shares of Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares during the period. Integris Wealth Management LLC lifted its stake in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the period. Finally, Sherrill & Hutchins Financial Advisory Inc lifted its stake in shares of Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TSLA shares. Wells Fargo & Company increased their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. William Blair started coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Guggenheim increased their target price on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research note on Thursday, October 24th. Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research report on Wednesday, October 23rd. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $243.75.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 420,577 shares of company stock valued at $135,230,506. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of TSLA stock opened at $357.93 on Thursday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $361.93. The stock has a market cap of $1.15 trillion, a PE ratio of 98.06, a PEG ratio of 11.41 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm’s 50 day moving average price is $280.65 and its two-hundred day moving average price is $235.96.

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, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the firm earned $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts forecast that Tesla, Inc. will post 1.99 EPS 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.