Concorde Asset Management LLC Has $835,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Concorde Asset Management LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.1% in the third quarter, Holdings Channel reports. The fund owned 3,193 shares of the electric vehicle producer’s stock after acquiring an additional 67 shares during the period. Concorde Asset Management LLC’s holdings in Tesla were worth $835,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC boosted its position 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 worth $26,000 after buying an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter worth about $29,000. Finally, Clean Yield Group boosted its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. HSBC reaffirmed a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Guggenheim upped their target price on Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Canaccord Genuity Group upped their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group upped their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Trading Down 0.5 %

Shares of NASDAQ:TSLA opened at $340.17 on Friday. The company has a market capitalization of $1.09 trillion, a P/E ratio of 93.20, a P/E/G ratio of 11.24 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64. 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 business’s 50 day simple moving average is $261.63 and its 200 day simple moving average is $224.93.

Tesla (NASDAQ:TSLA) last issued its quarterly 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. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal 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.