Tesla, Inc. (NASDAQ:TSLA) Stock Position Boosted by Insight Wealth Partners LLC

Insight Wealth Partners LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.9% during the third quarter, Holdings Channel reports. The institutional investor owned 1,441 shares of the electric vehicle producer’s stock after acquiring an additional 67 shares during the period. Insight Wealth Partners LLC’s holdings in Tesla were worth $377,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Bank & Trust Co acquired a new stake in Tesla in the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla during the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased 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 valued at $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the 3rd quarter valued at $29,000. Finally, Clean Yield Group lifted its holdings in shares of 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 last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, 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 value of $65,865.69. Following the completion of the sale, 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 0.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock worth $92,956,692 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSLA. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Thursday, October 17th. The Goldman Sachs Group increased their target price on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research note on Wednesday, October 23rd. Finally, Truist Financial raised their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Nine 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $231.06.

Tesla Stock Performance

NASDAQ TSLA opened at $338.23 on Wednesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.93. The company has a 50 day moving average of $268.52 and a 200-day moving average of $229.16. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 92.67, a PEG ratio of 11.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during 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%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. On average, equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.