Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Wahed Invest LLC

Wahed Invest LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,116 shares of the electric vehicle producer’s stock after acquiring an additional 6,730 shares during the quarter. Tesla comprises 3.1% of Wahed Invest LLC’s investment portfolio, making the stock its 6th biggest position. Wahed Invest LLC’s holdings in Tesla were worth $17,560,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Connable Office Inc. increased its position in shares of Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after acquiring an additional 38 shares during the last quarter. Community Bank N.A. increased its holdings in Tesla by 4.4% in the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after purchasing an additional 38 shares during the last quarter. Holistic Financial Partners lifted its stake in Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after purchasing an additional 40 shares in the last quarter. Integris Wealth Management LLC boosted its position in shares of 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 buying an additional 42 shares during the period. Finally, Sherrill & Hutchins Financial Advisory Inc grew its stake in shares of Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.2 %

Shares of TSLA opened at $369.49 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a one year low of $138.80 and a one year high of $375.43. The stock has a 50-day moving average price of $282.96 and a 200 day moving average price of $236.89. The company has a market capitalization of $1.19 trillion, a P/E ratio of 101.23, a P/E/G ratio of 11.41 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business 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 company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. Sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla 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 completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the director now directly owns 85,000 shares in the company, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 420,280 shares of company stock valued at $135,164,640 in the last quarter. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of research analyst reports. Canaccord Genuity Group raised their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Stifel Nicolaus lifted their price objective on shares of Tesla from $287.00 to $411.00 and gave the company a “buy” rating in a report on Monday. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, HSBC restated a “reduce” rating and set a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Nine analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $245.84.

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.