Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Waypoint Capital Advisors LLC

Waypoint Capital Advisors LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,391 shares of the electric vehicle producer’s stock after buying an additional 304 shares during the quarter. Waypoint Capital Advisors LLC’s holdings in Tesla were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after purchasing an additional 206,248 shares during the period. Morse Asset Management Inc lifted its holdings in shares of Tesla by 138.1% in the second 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 during the period. NewEdge Advisors LLC boosted its stake in Tesla by 12.9% during the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after buying an additional 27,130 shares in the last quarter. Entropy Technologies LP bought a new stake in Tesla in the first quarter worth about $1,941,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Tesla in the 1st quarter valued at about $79,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. Argus reissued a “buy” rating and set a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $230.00 price target on shares of Tesla in a research note on Friday, October 11th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $210.72.

Tesla Stock Down 0.1 %

Tesla stock opened at $220.70 on Friday. The company has a market capitalization of $703.86 billion, a P/E ratio of 56.30, a P/E/G ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The firm’s fifty day simple moving average is $227.67 and its 200-day simple moving average is $205.39. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

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

Insider Buying and Selling

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 value of $2,000,000.00. Following the transaction, the chief financial officer now 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 document filed with the SEC, which can be accessed through this hyperlink. In related 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 transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on 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 directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is currently owned by insiders.

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.