Viewpoint Capital Management LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Viewpoint Capital Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.5% in the third quarter, HoldingsChannel reports. The firm owned 18,607 shares of the electric vehicle producer’s stock after purchasing an additional 88 shares during the period. Tesla accounts for approximately 2.7% of Viewpoint Capital Management LLC’s portfolio, making the stock its 9th biggest holding. Viewpoint Capital Management LLC’s holdings in Tesla were worth $4,846,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter valued at about $25,000. Clean Yield Group increased 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 worth $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC raised its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the second quarter valued at about $26,000. Finally, M&R Capital Management Inc. increased its holdings in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were 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 owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s 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 transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Tesla Stock Up 3.3 %

TSLA stock traded up $8.71 during midday trading on Friday, hitting $269.19. The company’s stock had a trading volume of 161,611,931 shares, compared to its average volume of 94,680,352. The company’s fifty day moving average price is $229.47 and its 200 day moving average price is $206.79. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock has a market capitalization of $858.50 billion, a P/E ratio of 68.67, a PEG ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its 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. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the business earned $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 1.75 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Stifel Nicolaus upped their target price on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday. TD Cowen raised their price objective on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $219.00.

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.