Walker Asset Management LLC Invests $2.81 Million in Tesla, Inc. (NASDAQ:TSLA)

Walker Asset Management LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,750 shares of the electric vehicle producer’s stock, valued at approximately $2,813,000. Tesla makes up approximately 1.7% of Walker Asset Management LLC’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Integris Wealth Management LLC raised its stake in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its position in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the last quarter. Echo Wealth Management LLC lifted its stake in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares during the period. WASHINGTON TRUST Co boosted its holdings in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC increased its stake in shares of Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after acquiring an additional 45 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on TSLA. Canaccord Genuity Group boosted their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday. Guggenheim boosted their price objective on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a report on Friday, September 13th. Royal Bank of Canada raised their target price on Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a report on Thursday. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, KGI Securities reaffirmed a “neutral” rating and set a $236.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $216.87.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA traded up $39.29 during trading on Thursday, reaching $252.94. The company’s stock had a trading volume of 114,803,219 shares, compared to its average volume of 93,924,000. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The firm has a market cap of $808.05 billion, a price-to-earnings ratio of 70.27, a P/E/G ratio of 6.24 and a beta of 2.29. The business’s fifty day moving average price is $228.54 and its 200-day moving average price is $206.41. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the firm earned $0.78 EPS. The business’s revenue was up 2.3% on a year-over-year basis. As a group, analysts anticipate that Tesla, Inc. will post 1.75 EPS 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, 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.