Everhart Financial Group Inc. Raises Position in Tesla, Inc. (NASDAQ:TSLA)

Everhart Financial Group Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 14,208 shares of the electric vehicle producer’s stock after buying an additional 1,903 shares during the quarter. Tesla comprises approximately 0.8% of Everhart Financial Group Inc.’s investment portfolio, making the stock its 25th largest position. Everhart Financial Group Inc.’s holdings in Tesla were worth $3,717,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter worth about $29,000. Bank & Trust Co purchased a new position in shares of Tesla during the second quarter valued at approximately $25,000. Clean Yield Group lifted its position in Tesla by 60.0% during 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 period. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter valued at $26,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Tesla stock opened at $350.00 on Tuesday. 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 stock has a market cap of $1.12 trillion, a price-to-earnings ratio of 95.89, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29. The firm has a 50-day moving average of $241.18 and a two-hundred day moving average of $215.77. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm 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%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,797 shares of company stock worth $19,211,821. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TSLA. Guggenheim lifted their price objective on Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Wells Fargo & Company upped their price target 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. JPMorgan Chase & Co. raised their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Finally, Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $225.06.

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.