Gratus Capital LLC Has $21.76 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

Gratus Capital LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 271.3% during the third quarter, Holdings Channel reports. The fund owned 86,959 shares of the electric vehicle producer’s stock after buying an additional 63,536 shares during the quarter. Tesla comprises 1.5% of Gratus Capital LLC’s investment portfolio, making the stock its 15th largest position. Gratus Capital LLC’s holdings in Tesla were worth $21,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Conning Inc. raised its holdings in shares of Tesla by 0.5% during the third quarter. Conning Inc. now owns 15,790 shares of the electric vehicle producer’s stock valued at $3,951,000 after purchasing an additional 75 shares during the period. Ariose Capital Management Ltd bought a new stake in Tesla in the 3rd quarter valued at about $20,693,000. North Star Asset Management Inc. increased its position in Tesla by 5.9% in the 3rd quarter. North Star Asset Management Inc. now owns 12,198 shares of the electric vehicle producer’s stock valued at $3,052,000 after buying an additional 681 shares in the last quarter. Joule Financial LLC raised its stake in Tesla by 6.9% during the 3rd quarter. Joule Financial LLC now owns 4,772 shares of the electric vehicle producer’s stock worth $1,194,000 after buying an additional 306 shares during the period. Finally, Emerald Advisers LLC boosted its holdings in Tesla by 16.1% in the third quarter. Emerald Advisers LLC now owns 5,875 shares of the electric vehicle producer’s stock worth $1,470,000 after acquiring an additional 813 shares in the last quarter. 41.87% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 104,716 shares of the company’s stock, valued at $26,179,000. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 104,716 shares of the company’s stock, valued at $26,179,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 1,049 shares of the business’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $244.34, for a total value of $256,312.66. Following the transaction, the senior vice president now owns 61,124 shares of the company’s stock, valued at $14,935,038.16. The disclosure for this sale can be found here. Insiders sold 19,722 shares of company stock valued at $4,510,618 in the last quarter. 20.90% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $238.54 on Tuesday. Tesla, Inc. has a 12-month low of $114.92 and a 12-month high of $299.29. The firm has a market cap of $758.30 billion, a P/E ratio of 77.32, a price-to-earnings-growth ratio of 3.86 and a beta of 2.31. The company has a quick ratio of 1.18, a current ratio of 1.69 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average is $237.98 and its 200-day moving average is $247.48.

Tesla (NASDAQ:TSLA – Get Free Report) last posted its quarterly earnings results on Wednesday, October 18th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). The company had revenue of $23.35 billion during the quarter, compared to the consensus estimate of $24.19 billion. Tesla had a return on equity of 21.47% and a net margin of 11.21%. Tesla’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.95 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada lowered their target price on Tesla from $301.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, December 18th. Jefferies Financial Group lowered their price objective on shares of Tesla from $250.00 to $210.00 and set a “hold” rating on the stock in a report on Monday, November 20th. Guggenheim lifted their price objective on shares of Tesla from $125.00 to $132.00 and gave the company a “sell” rating in a report on Friday, December 15th. Citigroup lowered their target price on shares of Tesla from $271.00 to $255.00 and set a “neutral” rating on the stock in a report on Thursday, October 19th. Finally, JPMorgan Chase & Co. lifted their price target on Tesla from $120.00 to $135.00 in a research note on Tuesday, October 3rd. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven 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 target price of $234.24.

Read Our Latest Research Report on TSLA

Tesla Company Profile

(Free Report)

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.

Further Reading

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA – Free Report).