TSA Wealth Managment LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

TSA Wealth Managment LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 23.4% in the third quarter, HoldingsChannel reports. The firm owned 1,822 shares of the electric vehicle producer’s stock after buying an additional 345 shares during the quarter. TSA Wealth Managment LLC’s holdings in Tesla were worth $477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Connable Office Inc. lifted its holdings in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after acquiring an additional 38 shares during the period. Integris Wealth Management LLC raised its stake in shares of Tesla by 1.0% during the 2nd 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 period. Sherrill & Hutchins Financial Advisory Inc boosted its holdings in shares of Tesla by 1.4% in 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 grew its position in Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares during the period. Finally, Essex Savings Bank increased its holdings in Tesla by 1.4% during the third quarter. Essex Savings Bank now owns 3,128 shares of the electric vehicle producer’s stock worth $818,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TSLA shares. Wells Fargo & Company increased their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research report on Wednesday, July 24th. Canaccord Genuity Group upped their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays lifted their price objective on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $230.18.

Tesla Price Performance

TSLA stock opened at $320.72 on Friday. The firm has a 50-day moving average of $252.30 and a 200 day moving average of $220.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The company has a market cap of $1.03 trillion, a P/E ratio of 87.87, a PEG ratio of 10.73 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for 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 firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. On average, sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,797 shares of company stock valued at $57,616,781 in the last three months. 20.70% of the stock is currently owned by company insiders.

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.