First Dallas Securities Inc. acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 910 shares of the electric vehicle producer’s stock, valued at approximately $238,000.
A number of other institutional investors have also added to or reduced their stakes in TSLA. Valley Wealth Managers Inc. acquired a new position in Tesla during the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter valued at approximately $29,000. Clean Yield Group increased its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Finally, Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter valued at approximately $35,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Tesla from $287.00 to $411.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Piper Sandler increased their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Canaccord Genuity Group increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Truist Financial increased their price objective on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $248.12.
Tesla Price Performance
Shares of NASDAQ:TSLA opened at $389.79 on Tuesday. The company’s fifty day moving average price is $288.09 and its 200-day moving average price is $240.67. The firm has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 106.79, a PEG ratio of 12.64 and a beta of 2.36. Tesla, Inc. has a one year low of $138.80 and a one year high of $404.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.
Insider Activity
In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 522,886 shares of company stock valued at $171,393,831. Corporate insiders own 20.70% of the company’s stock.
Tesla Company Profile
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; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.
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