Connecticut Wealth Management LLC Acquires 1,258 Shares of Tesla, Inc. (NASDAQ:TSLA)

Connecticut Wealth Management LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 192.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,911 shares of the electric vehicle producer’s stock after acquiring an additional 1,258 shares during the period. Connecticut Wealth Management LLC’s holdings in Tesla were worth $507,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Jennison Associates LLC grew its position in Tesla by 200.2% during the 3rd quarter. Jennison Associates LLC now owns 29,557,607 shares of the electric vehicle producer’s stock worth $7,840,155,000 after acquiring an additional 19,711,687 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in Tesla by 196.4% during the 3rd quarter. Baillie Gifford & Co. now owns 27,876,833 shares of the electric vehicle producer’s stock worth $7,394,330,000 after buying an additional 18,472,529 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Tesla by 10.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,233,086 shares of the electric vehicle producer’s stock worth $9,584,845,000 after buying an additional 1,317,687 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Tesla by 189.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,366,820 shares of the electric vehicle producer’s stock worth $2,484,549,000 after buying an additional 6,125,732 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Tesla by 2.5% during the 1st quarter. Northern Trust Corp now owns 8,774,479 shares of the electric vehicle producer’s stock worth $9,455,380,000 after buying an additional 216,282 shares in the last quarter. 43.00% of the stock is currently owned by institutional investors.

Tesla Trading Up 0.1 %

Shares of NASDAQ:TSLA opened at $143.89 on Wednesday. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $384.29. The company has a market capitalization of $454.37 billion, a P/E ratio of 44.46, a price-to-earnings-growth ratio of 1.18 and a beta of 2.02. The company has a 50-day simple moving average of $148.77 and a 200 day simple moving average of $220.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.46.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TSLA shares. StockNews.com started coverage on Tesla in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. The Goldman Sachs Group cut their price target on Tesla from $235.00 to $205.00 and set a “buy” rating on the stock in a research note on Monday, January 2nd. Edward Jones raised Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, January 5th. Bank of America dropped their price objective on Tesla from $135.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 17th. Finally, Morgan Stanley dropped their price objective on Tesla from $330.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 28th. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $216.60.

Insider Activity at Tesla

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the completion of the sale, the senior vice president now directly owns 62,988 shares in the company, valued at $14,484,090.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, CEO Elon Musk sold 9,650,000 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $208.58, for a total transaction of $2,012,797,000.00. Following the completion of the sale, the chief executive officer now directly owns 455,467,432 shares in the company, valued at $95,001,396,966.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the sale, the senior vice president now owns 62,988 shares of the company’s stock, valued at $14,484,090.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,172,833 shares of company stock worth $4,492,567,309. Insiders own 25.10% of the company’s stock.

About Tesla

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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.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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