Banque Pictet & Cie SA Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Banque Pictet & Cie SA acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,015 shares of the electric vehicle producer’s stock, valued at approximately $864,000.

Several other institutional investors and hedge funds also recently modified their holdings of TSLA. City Holding Co. bought a new position in shares of Tesla in the third quarter valued at about $26,000. Clean Yield Group raised its position in shares of Tesla by 400.0% in the third quarter. Clean Yield Group now owns 60 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 48 shares during the period. Horan Securities Inc. raised its position in shares of Tesla by 140.0% in the third quarter. Horan Securities Inc. now owns 60 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 35 shares during the period. JJJ Advisors Inc. raised its position in shares of Tesla by 164.0% in the third quarter. JJJ Advisors Inc. now owns 64 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 164 shares during the period. Finally, NewSquare Capital LLC raised its position in shares of Tesla by 220.0% in the third quarter. NewSquare Capital LLC now owns 64 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 44 shares during the period. 48.22% of the stock is currently owned by institutional investors.

TSLA has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of Tesla in a research note on Tuesday, November 3rd. They issued a “neutral” rating on the stock. UBS Group set a $325.00 price target on shares of Tesla and gave the company a “neutral” rating in a research note on Thursday, October 22nd. Cfra upgraded shares of Tesla from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 30th. Credit Suisse Group set a $400.00 price target on shares of Tesla and gave the company a “neutral” rating in a research note on Thursday, October 22nd. Finally, Royal Bank of Canada initiated coverage on shares of Tesla in a research note on Thursday, October 22nd. They issued a “sell” rating and a $339.00 price target on the stock. They noted that the move was a valuation call. Eleven equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $262.07.

In other Tesla news, CFO Zachary Kirkhorn sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, November 17th. The shares were sold at an average price of $460.26, for a total transaction of $575,325.00. Following the completion of the transaction, the chief financial officer now owns 55,624 shares in the company, valued at approximately $25,601,502.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $451.48, for a total transaction of $5,643,500.00. Following the transaction, the director now owns 14,300 shares of the company’s stock, valued at approximately $6,456,164. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,974 shares of company stock valued at $75,301,295. Company insiders own 23.00% of the company’s stock.

Shares of NASDAQ TSLA opened at $489.61 on Friday. The company has a 50 day simple moving average of $425.77 and a 200 day simple moving average of $318.32. The firm has a market cap of $464.10 billion, a PE ratio of 1,275.03, a price-to-earnings-growth ratio of 20.46 and a beta of 1.68. Tesla, Inc. has a 1 year low of $65.42 and a 1 year high of $508.61. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.25 and a quick ratio of 0.92.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 21st. The electric vehicle producer reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.54. Tesla had a net margin of 1.43% and a return on equity of 4.19%. During the same period last year, the firm posted $0.37 earnings per share. As a group, research analysts anticipate that Tesla, Inc. will post 0.62 earnings per share for the current fiscal 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, Netherlands, Norway, and internationally. The company operates in two segments, Automotive; and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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