Advisor Resource Council Purchases New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Advisor Resource Council purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, Holdings Channel.com reports. The firm purchased 4,411 shares of the electric vehicle producer’s stock, valued at approximately $1,154,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Graypoint LLC lifted its holdings in Tesla by 19.0% during the 3rd quarter. Graypoint LLC now owns 16,958 shares of the electric vehicle producer’s stock worth $4,437,000 after buying an additional 2,707 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC bought a new position in Tesla during the 3rd quarter worth approximately $384,000. Forte Capital LLC ADV lifted its holdings in Tesla by 1.1% during the 3rd quarter. Forte Capital LLC ADV now owns 14,277 shares of the electric vehicle producer’s stock worth $3,735,000 after buying an additional 158 shares during the last quarter. D.B. Root & Company LLC lifted its holdings in Tesla by 36.2% during the 3rd quarter. D.B. Root & Company LLC now owns 4,094 shares of the electric vehicle producer’s stock worth $1,071,000 after buying an additional 1,089 shares during the last quarter. Finally, Dechtman Wealth Management LLC bought a new position in Tesla during the 3rd quarter worth approximately $238,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now 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 filing with the SEC, which is available at this link. 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 in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock valued at $19,211,821 over the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

TSLA opened at $288.53 on Thursday. The firm has a market cap of $926.20 billion, a PE ratio of 79.05, a P/E/G ratio of 8.01 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $237.23 and a 200-day simple moving average of $213.07. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $289.59.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. As a group, equities analysts predict that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Wolfe Research initiated coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Argus reiterated a “buy” rating and set a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Finally, Roth Mkm reiterated a “neutral” rating and set a $85.00 price target on shares of Tesla in a research report on Friday, October 11th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $219.45.

Tesla 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.