Cypress Point Wealth Management LLC Grows Holdings in Tesla, Inc. (NASDAQ:TSLA)

Cypress Point Wealth Management LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,647 shares of the electric vehicle producer’s stock after buying an additional 76 shares during the period. Tesla comprises approximately 1.6% of Cypress Point Wealth Management LLC’s holdings, making the stock its 14th biggest holding. Cypress Point Wealth Management LLC’s holdings in Tesla were worth $4,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new stake in shares of Tesla in the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC increased its position in shares of Tesla by 168.8% in 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 during the last quarter. Clean Yield Group grew its position 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 valued at $33,000 after buying an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. grew its position in shares of 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 buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TSLA. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Mizuho boosted their target price 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. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Citigroup reduced their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $222.03.

Tesla Stock Performance

TSLA stock traded up $24.31 on Friday, reaching $321.22. 204,782,763 shares of the company were exchanged, compared to its average volume of 94,883,055. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $328.71. The stock’s fifty day moving average price is $241.18 and its 200 day moving average price is $214.90. The firm has a market capitalization of $1.03 trillion, a PE ratio of 88.01, a PEG ratio of 9.51 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. Tesla’s revenue was up 7.8% compared to the same quarter last year. On average, research analysts anticipate that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock valued at $19,211,821 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

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.