Riversedge Advisors LLC Acquires New Position in Tesla, Inc. (NASDAQ:TSLA)

Riversedge Advisors LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 792 shares of the electric vehicle producer’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Bank & Trust Co acquired a new stake in shares of Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC raised 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 worth $26,000 after acquiring an additional 81 shares during the last quarter. Clean Yield Group increased its stake in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. lifted its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on TSLA. Guggenheim lifted their target price on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. The Goldman Sachs Group restated a “neutral” rating and set a $230.00 price objective on shares of Tesla in a report on Friday, October 11th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Friday, October 11th. Finally, William Blair began coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $210.72.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,661 shares of company stock worth $16,663,291. Insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.7 %

TSLA stock traded down $1.50 during midday trading on Thursday, reaching $219.83. The stock had a trading volume of 30,434,112 shares, compared to its average volume of 94,480,781. The firm has a market cap of $702.28 billion, a price-to-earnings ratio of 61.73, a PEG ratio of 5.94 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. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The business has a fifty day simple moving average of $226.81 and a two-hundred day simple moving average of $204.69.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Tesla Company 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.