Valmark Advisers Inc. Has $3.87 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Valmark Advisers Inc. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,787 shares of the electric vehicle producer’s stock after buying an additional 1,041 shares during the period. Valmark Advisers Inc.’s holdings in Tesla were worth $3,869,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TSLA. Integris Wealth Management LLC raised its stake in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its holdings in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares during the last quarter. Echo Wealth Management LLC raised its stake in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after buying an additional 44 shares during the last quarter. WASHINGTON TRUST Co grew its holdings in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after acquiring an additional 45 shares during the period. Finally, Bellevue Asset Management LLC grew its stake in shares of Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade 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, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing 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 that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,297 shares of company stock valued at $3,065,866. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on TSLA shares. Barclays raised their price objective on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Bank of America increased their target price on Tesla from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. HSBC reissued a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Finally, Truist Financial lifted their price target on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Eight 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $219.45.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $3.27 during trading on Tuesday, hitting $259.24. 60,742,891 shares of the company were exchanged, compared to its average volume of 94,583,930. The company has a market cap of $832.18 billion, a PE ratio of 71.91, a P/E/G ratio of 7.59 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a 50 day moving average of $231.33 and a 200 day moving average of $208.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company 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%. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 1.75 EPS for the current 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.