Fortem Financial Group LLC Has $9.60 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Fortem Financial Group LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,776 shares of the electric vehicle producer’s stock after acquiring an additional 718 shares during the quarter. Tesla comprises about 3.7% of Fortem Financial Group LLC’s portfolio, making the stock its 3rd largest holding. Fortem Financial Group LLC’s holdings in Tesla were worth $9,602,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of TSLA. Connable Office Inc. boosted its position in shares of Tesla by 0.3% during the 3rd 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 last quarter. Community Bank N.A. raised its holdings in Tesla by 4.4% during the 3rd 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 position in Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after buying an additional 40 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc increased its position in Tesla by 1.4% during 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 acquiring an additional 43 shares during the last quarter. Finally, Altman Advisors Inc. raised its stake in shares of Tesla by 0.4% in the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock valued at $2,814,000 after acquiring an additional 43 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $3.51 during midday trading on Monday, reaching $406.93. The company had a trading volume of 76,429,764 shares, compared to its average volume of 92,829,289. The stock has a market cap of $1.31 trillion, a P/E ratio of 111.49, a P/E/G ratio of 10.80 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54. The business’s 50-day simple moving average is $362.37 and its 200 day simple moving average is $274.38.

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

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of 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 filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 514,886 shares of company stock worth $169,393,831. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TSLA. Bank of America upped their price target on shares of Tesla from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Robert W. Baird increased their price target on Tesla from $280.00 to $480.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. HSBC reissued a “reduce” rating and set a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. Finally, Jefferies Financial Group lifted their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Nine analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $292.97.

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.