Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Drive Wealth Management LLC

Drive Wealth Management LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 13.1% during the third quarter, Holdings Channel.com reports. The fund owned 8,389 shares of the electric vehicle producer’s stock after acquiring an additional 970 shares during the period. Tesla accounts for 0.6% of Drive Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Drive Wealth Management LLC’s holdings in Tesla were worth $2,195,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new position in shares of Tesla during the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla during the second quarter worth $26,000. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Tesla in the third quarter worth $29,000. Finally, Clean Yield Group lifted its position 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 valued at $33,000 after acquiring an additional 48 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was 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 owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,797 shares of company stock worth $57,616,781. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $320.72 on Monday. 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 firm’s fifty day moving average price is $252.30 and its 200 day moving average price is $221.01. The company has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 87.87, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 EPS. On average, research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on TSLA. The Goldman Sachs Group boosted their target price on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Bank of America boosted their price objective on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Friday, October 11th. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Finally, StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Nine 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. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $230.18.

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.