CreativeOne Wealth LLC Has $9.70 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

CreativeOne Wealth LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 22.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,067 shares of the electric vehicle producer’s stock after purchasing an additional 6,678 shares during the quarter. CreativeOne Wealth LLC’s holdings in Tesla were worth $9,698,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter worth $29,000. Bank & Trust Co acquired a new stake in Tesla in the 2nd quarter valued at about $25,000. Clean Yield Group raised its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% during the second 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 in the last quarter. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the second quarter valued at approximately $26,000. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 1.0 %

Shares of NASDAQ:TSLA opened at $341.70 on Wednesday. The company has a 50-day simple moving average of $268.52 and a 200 day simple moving average of $229.16. The company has a market capitalization of $1.10 trillion, a P/E ratio of 92.67, a price-to-earnings-growth ratio of 11.00 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $361.93.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TSLA shares. The Goldman Sachs Group boosted their price objective on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Wolfe Research began coverage on Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Jefferies Financial Group upped their target price on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Canaccord Genuity Group lifted their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $231.06.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction 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 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,187 shares of company stock valued at $92,956,692. Insiders own 20.70% of the company’s stock.

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.