NovaPoint Capital LLC Has $489,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

NovaPoint Capital LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,870 shares of the electric vehicle producer’s stock after purchasing an additional 176 shares during the period. NovaPoint Capital LLC’s holdings in Tesla were worth $489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after buying an additional 206,248 shares during the last quarter. Morse Asset Management Inc increased its holdings in Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares in the last quarter. NewEdge Advisors LLC raised its position in Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after purchasing an additional 27,130 shares during the last quarter. Entropy Technologies LP acquired a new position in Tesla in the first quarter worth $1,941,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Tesla during the first quarter worth $79,000. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. 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 three months, insiders have sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is currently owned by corporate insiders.

Tesla Trading Down 0.1 %

Shares of TSLA opened at $220.70 on Friday. 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, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The firm has a market cap of $703.86 billion, a price-to-earnings ratio of 56.30, a PEG ratio of 5.94 and a beta of 2.29. The business’s fifty day moving average is $227.67 and its 200-day moving average is $205.12.

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

Wall Street Analyst Weigh In

TSLA has been the topic of several research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $230.00 price objective on shares of Tesla in a report on Friday, October 11th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Guggenheim upped their price objective on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research report on Friday, September 13th. Argus reaffirmed a “buy” rating and issued a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Finally, Wolfe Research assumed coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $210.72.

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.