W.G. Shaheen & Associates DBA Whitney & Co Purchases 2,467 Shares of Tesla, Inc. (NASDAQ:TSLA)

W.G. Shaheen & Associates DBA Whitney & Co lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 85.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,357 shares of the electric vehicle producer’s stock after acquiring an additional 2,467 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Tesla were worth $1,402,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TSLA. Bank & Trust Co bought a new position in Tesla during the second quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC grew its position 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 buying an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in Tesla during the third quarter valued at about $29,000. Finally, Clean Yield Group grew its position 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 buying an additional 48 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated 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 directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,797 shares of company stock valued at $57,616,781. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TSLA shares. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Piper Sandler upped their price objective on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Bank of America upped their price objective on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Tesla in a report on Monday. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $230.18.

Tesla Stock Performance

Shares of Tesla stock opened at $338.74 on Tuesday. 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 capitalization of $1.09 trillion, a P/E ratio of 92.81, a P/E/G ratio of 10.42 and a beta of 2.29. The business has a fifty day simple moving average of $254.75 and a two-hundred day simple moving average of $222.13. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64.

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

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.