Chevy Chase Trust Holdings Inc. Increases Stake in Tesla Inc (TSLA)

Chevy Chase Trust Holdings Inc. grew its holdings in shares of Tesla Inc (NASDAQ:TSLA) by 27.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,584 shares of the electric vehicle producer’s stock after buying an additional 340 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Tesla were worth $541,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Investec Asset Management LTD boosted its stake in Tesla by 78.0% in the 3rd quarter. Investec Asset Management LTD now owns 3,690 shares of the electric vehicle producer’s stock worth $1,259,000 after purchasing an additional 1,617 shares in the last quarter. Smith Moore & CO. boosted its stake in Tesla by 56.3% in the 3rd quarter. Smith Moore & CO. now owns 972 shares of the electric vehicle producer’s stock worth $332,000 after purchasing an additional 350 shares in the last quarter. CIBC World Markets Inc. lifted its stake in Tesla by 74.2% during the 2nd quarter. CIBC World Markets Inc. now owns 10,575 shares of the electric vehicle producer’s stock valued at $3,824,000 after acquiring an additional 4,504 shares during the period. WINTON GROUP Ltd bought a new position in Tesla during the 2nd quarter valued at about $681,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Tesla by 2.1% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 38,569 shares of the electric vehicle producer’s stock valued at $13,156,000 after acquiring an additional 784 shares during the period. Hedge funds and other institutional investors own 57.20% of the company’s stock.

Tesla Inc (TSLA) opened at $343.45 on Monday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09. Tesla Inc has a 52-week low of $197.60 and a 52-week high of $389.61.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) EPS for the quarter, beating analysts’ consensus estimates of ($3.09) by $0.17. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. equities research analysts predict that Tesla Inc will post -11.38 earnings per share for the current fiscal year.

In other Tesla news, VP John Douglas Field sold 1,400 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $340.67, for a total value of $476,938.00. Following the sale, the vice president now owns 21,528 shares in the company, valued at $7,333,943.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Eric Branderiz sold 1,736 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total value of $589,354.64. Following the completion of the sale, the vice president now owns 1,736 shares in the company, valued at approximately $589,354.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,817 shares of company stock valued at $4,171,699. 23.10% of the stock is owned by corporate insiders.

TSLA has been the topic of several research analyst reports. Robert W. Baird restated a “buy” rating and set a $411.00 target price on shares of Tesla in a research note on Friday, September 29th. Nomura initiated coverage on shares of Tesla in a research note on Wednesday, October 4th. They set a “buy” rating and a $500.00 target price on the stock. Instinet initiated coverage on shares of Tesla in a research note on Wednesday, October 4th. They set a “buy” rating and a $500.00 target price on the stock. Guggenheim restated a “buy” rating and set a $430.00 target price on shares of Tesla in a research note on Friday, October 6th. Finally, Piper Jaffray Companies set a $386.00 target price on shares of Tesla and gave the company a “buy” rating in a research note on Monday, October 16th. Thirteen investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $331.04.

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Tesla Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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