Gabelli Funds LLC Buys 45,123 Shares of Tesla, Inc. $TSLA

Gabelli Funds LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 6,714.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,795 shares of the electric vehicle producer’s stock after purchasing an additional 45,123 shares during the quarter. Gabelli Funds LLC’s holdings in Tesla were worth $20,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Gamco Investors INC. ET AL lifted its position in Tesla by 29.6% during the third quarter. Gamco Investors INC. ET AL now owns 32,576 shares of the electric vehicle producer’s stock worth $14,487,000 after purchasing an additional 7,446 shares during the period. Palo Alto Wealth Advisors LLC increased its holdings in Tesla by 4.1% in the 3rd quarter. Palo Alto Wealth Advisors LLC now owns 2,607 shares of the electric vehicle producer’s stock valued at $1,146,000 after buying an additional 102 shares during the period. Integrity Advisory Solutions LLC bought a new position in Tesla in the 3rd quarter valued at about $729,000. One Wealth Capital Management LLC raised its position in shares of Tesla by 15.3% in the 3rd quarter. One Wealth Capital Management LLC now owns 3,674 shares of the electric vehicle producer’s stock valued at $1,634,000 after buying an additional 487 shares in the last quarter. Finally, M1 Capital Management LLC lifted its holdings in shares of Tesla by 9.9% during the 3rd quarter. M1 Capital Management LLC now owns 5,271 shares of the electric vehicle producer’s stock worth $2,344,000 after acquiring an additional 474 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial reduced their price target on shares of Tesla from $439.00 to $438.00 and set a “hold” rating on the stock in a research report on Thursday, January 29th. Mizuho set a $540.00 target price on Tesla and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reduced their target price on Tesla from $500.00 to $480.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Morgan Stanley set a $415.00 price target on Tesla and gave the stock an “equal weight” rating in a report on Thursday, January 29th. Finally, Canaccord Genuity Group set a $520.00 price objective on Tesla in a research report on Thursday, January 29th. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $406.84.

Read Our Latest Research Report on TSLA

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Tesla Stock Performance

NASDAQ TSLA opened at $396.73 on Friday. The firm’s fifty day moving average price is $425.17 and its two-hundred day moving average price is $423.32. The stock has a market cap of $1.49 trillion, a PE ratio of 367.34, a PEG ratio of 11.73 and a beta of 1.89. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The company had revenue of $24.90 billion during the quarter, compared to analysts’ expectations of $24.75 billion. Tesla had a return on equity of 4.86% and a net margin of 4.00%.Tesla’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 EPS. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $445.40, for a total value of $26,724,000.00. Following the sale, the director owned 577,031 shares in the company, valued at approximately $257,009,607.40. This trade represents a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 145,188 shares of company stock valued at $64,193,919 over the last three months. Company insiders own 19.90% of the company’s stock.

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

See Also

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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