Raymond James & Associates Has $354.42 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Raymond James & Associates grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,354,657 shares of the electric vehicle producer’s stock after buying an additional 50,106 shares during the quarter. Raymond James & Associates’ holdings in Tesla were worth $354,419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TSLA. Bank & Trust Co acquired a new stake in Tesla during the 2nd quarter worth $25,000. Clean Yield Group grew its position in shares of Tesla by 60.0% in the 3rd 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 increased its stake in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in Tesla in the second quarter valued at approximately $26,000. Finally, M&R Capital Management Inc. boosted its holdings in shares of Tesla by 263.2% in the third 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 during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This 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. Corporate insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. HSBC reaffirmed a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research note on Friday, October 11th. William Blair began coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Guggenheim raised their price target 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. Wedbush reiterated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $210.72.

Tesla Trading Down 0.1 %

Shares of Tesla stock traded down $0.19 on Friday, reaching $220.70. 49,611,867 shares of the company’s stock were exchanged, compared to its average volume of 94,365,750. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The firm’s 50-day moving average is $227.67 and its two-hundred day moving average is $205.12. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market capitalization of $703.86 billion, a P/E ratio of 56.30, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $24.38 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 1.75 EPS 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.