Paragon Advisors LLC Has $2.68 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Paragon Advisors LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 4.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,246 shares of the electric vehicle producer’s stock after selling 459 shares during the period. Paragon Advisors LLC’s holdings in Tesla were worth $2,681,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Natixis Advisors LLC boosted its position in shares of Tesla by 6.6% in the third quarter. Natixis Advisors LLC now owns 1,750,576 shares of the electric vehicle producer’s stock worth $458,003,000 after buying an additional 108,449 shares during the period. Mizuho Markets Americas LLC acquired a new stake in shares of Tesla during the third quarter worth approximately $52,326,000. TSA Wealth Managment LLC boosted its stake in shares of Tesla by 23.4% during the 3rd quarter. TSA Wealth Managment LLC now owns 1,822 shares of the electric vehicle producer’s stock valued at $477,000 after buying an additional 345 shares during the period. Meridian Investment Counsel Inc. acquired a new position in shares of Tesla in the third quarter worth $230,000. Finally, Birchcreek Wealth Management LLC purchased a new stake in shares of Tesla during the third quarter worth $277,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.1 %

NASDAQ TSLA opened at $320.72 on Friday. The stock’s 50 day simple moving average is $252.30 and its 200 day simple moving average is $220.46. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The firm has a market cap of $1.03 trillion, a PE ratio of 87.87, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company 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%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on 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 in the company, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 188,797 shares of company stock valued at $57,616,781. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Citigroup dropped their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Friday, October 11th. Finally, Royal Bank of Canada upped their target price on Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price 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.