Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 81,566 shares of the electric vehicle producer’s stock after buying an additional 9,426 shares during the period. Tesla makes up approximately 1.1% of First Trust Direct Indexing L.P.’s investment portfolio, making the stock its 9th largest holding. First Trust Direct Indexing L.P.’s holdings in Tesla were worth $21,340,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares during the period. International Assets Investment Management LLC increased its position in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. ARK Investment Management LLC grew its stake in Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after acquiring an additional 135,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Tesla by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after acquiring an additional 412,872 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 0.9 %

TSLA stock traded up $2.28 during trading on Wednesday, reaching $261.80. The stock had a trading volume of 27,513,329 shares, compared to its average volume of 94,349,781. The firm has a fifty day moving average price of $232.09 and a 200 day moving average price of $209.16. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $840.39 billion, a P/E ratio of 71.63, a PEG ratio of 7.59 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Transactions at Tesla

In related 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 value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 12,297 shares of company stock valued at $3,065,866. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TSLA. Bank of America increased their price target on shares of Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Canaccord Genuity Group boosted their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Tuesday, August 20th. Truist Financial boosted their target price on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group raised their price target on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $219.45.

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.