Forte Capital LLC ADV Purchases 158 Shares of Tesla, Inc. (NASDAQ:TSLA)

Forte Capital LLC ADV lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the third quarter, Holdings Channel.com reports. The fund owned 14,277 shares of the electric vehicle producer’s stock after purchasing an additional 158 shares during the quarter. Forte Capital LLC ADV’s holdings in Tesla were worth $3,735,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank & Trust Co acquired a new position in shares of Tesla in the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of 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 acquiring an additional 81 shares during the period. Clean Yield Group increased its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Finally, M&R Capital Management Inc. lifted its position in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 14.8 %

Shares of TSLA stock opened at $288.53 on Thursday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $289.59. The firm has a market capitalization of $926.20 billion, a PE ratio of 79.05, a P/E/G ratio of 8.01 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock’s 50-day simple moving average is $237.23 and its 200-day simple moving average is $213.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results 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 company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 earnings per share. Equities analysts expect that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated 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 sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,797 shares of company stock worth $19,211,821. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TSLA. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a report on Wednesday, July 24th. Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Argus reissued a “buy” rating and issued a $286.00 price target on shares of Tesla in a research note on Friday, July 26th. Bank of America raised their target price on shares of Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Roth Mkm restated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $219.45.

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.