MA Private Wealth Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)

MA Private Wealth purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 900 shares of the electric vehicle producer’s stock, valued at approximately $235,000.

Other hedge funds have also bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after acquiring an additional 206,248 shares in the last quarter. Morse Asset Management Inc grew its holdings in Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after buying an additional 3,462 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Tesla by 12.9% during the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after acquiring an additional 27,130 shares during the period. Entropy Technologies LP purchased a new stake in shares of Tesla in the first quarter worth $1,941,000. Finally, Future Financial Wealth Managment LLC bought a new position in Tesla in the 1st quarter worth about $79,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla 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 sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

NASDAQ:TSLA traded up $7.25 on Friday, hitting $267.73. The stock had a trading volume of 36,569,414 shares, compared to its average volume of 94,080,203. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The stock has a market cap of $855.30 billion, a price-to-earnings ratio of 73.17, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The business’s 50-day simple moving average is $228.54 and its two-hundred day simple moving average is $206.41.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the business posted $0.53 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on TSLA shares. The Goldman Sachs Group raised their price objective on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. HSBC reaffirmed a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. JPMorgan Chase & Co. raised their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research report on Thursday. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $218.18.

Tesla Profile

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.