Peterson Financial Group Inc. Takes $35,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Peterson Financial Group Inc. acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 134 shares of the electric vehicle producer’s stock, valued at approximately $35,000.

Several other institutional investors have also added to or reduced their stakes in TSLA. International Assets Investment Management LLC raised its stake in shares of Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP raised its position in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after buying an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after acquiring an additional 1,479,378 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Tesla in the first quarter worth approximately $187,775,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,797 shares of company stock valued at $57,616,781 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $320.72 on Friday. 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, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The business has a 50 day simple moving average of $252.30 and a two-hundred day simple moving average of $220.72. The stock has a market capitalization of $1.03 trillion, a PE ratio of 87.87, a P/E/G ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results 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 firm had revenue of $25.18 billion during 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%. 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 earnings per share. On average, research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSLA. JPMorgan Chase & Co. increased their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price objective on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Argus reissued a “buy” rating and issued a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Finally, Piper Sandler increased their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Nine investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $230.18.

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.