Adero Partners LLC Acquires 399 Shares of Tesla, Inc. (NASDAQ:TSLA)

Adero Partners LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,869 shares of the electric vehicle producer’s stock after acquiring an additional 399 shares during the period. Adero Partners LLC’s holdings in Tesla were worth $4,152,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter valued at approximately $29,000. Bank & Trust Co bought a new position in Tesla during the second quarter valued at $25,000. Clean Yield Group grew its holdings in 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 period. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% during the second 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 period. Finally, Valley Wealth Managers Inc. bought a new position in Tesla during the second quarter valued at $26,000. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock valued at $57,616,781 over the last 90 days. 20.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Roth Mkm reissued a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. 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. Canaccord Genuity Group increased their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research report on Wednesday, October 23rd. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $230.18.

Tesla Stock Up 3.1 %

TSLA opened at $320.72 on Friday. The stock has a market cap of $1.03 trillion, a PE ratio of 87.87, a P/E/G ratio of 10.42 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The business’s fifty day simple moving average is $252.30 and its 200 day simple moving average is $220.72.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. As a group, research analysts expect 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.