Masso Torrence Wealth Management Inc. Buys 188 Shares of Tesla, Inc. (NASDAQ:TSLA)

Masso Torrence Wealth Management Inc. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,333 shares of the electric vehicle producer’s stock after acquiring an additional 188 shares during the period. Tesla makes up about 0.8% of Masso Torrence Wealth Management Inc.’s investment portfolio, making the stock its 28th largest holding. Masso Torrence Wealth Management Inc.’s holdings in Tesla were worth $1,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla during the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC grew its stake in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares in the last quarter. Clean Yield Group raised its holdings in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. lifted its position in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 3.3 %

Shares of TSLA stock traded up $8.71 on Friday, hitting $269.19. The company had a trading volume of 161,611,931 shares, compared to its average volume of 94,680,352. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a market cap of $858.50 billion, a P/E ratio of 68.67, a P/E/G ratio of 6.24 and a beta of 2.29. The stock’s 50-day moving average is $229.47 and its two-hundred day moving average is $206.79.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. Citigroup cut their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company upped their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. TD Cowen upped their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Finally, Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Thursday. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $219.00.

About Tesla

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.