Brophy Wealth Management LLC Takes $1.13 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Brophy Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,302 shares of the electric vehicle producer’s stock, valued at approximately $1,126,000.

Other large investors have also recently bought and sold shares of the company. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC lifted its position in Tesla by 168.8% in the second 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 period. Transcendent Capital Group LLC bought a new position in Tesla during the 3rd quarter valued at $29,000. Clean Yield Group increased 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 purchasing an additional 48 shares during the period. Finally, Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter worth $35,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 0.1 %

NASDAQ:TSLA opened at $389.79 on Tuesday. The firm has a market cap of $1.25 trillion, a price-to-earnings ratio of 106.79, a P/E/G ratio of 12.64 and a beta of 2.36. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $404.80. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $288.09 and its 200-day moving average is $240.67.

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, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the business posted $0.53 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated 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 in the company, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 522,886 shares of company stock valued at $171,393,831 in the last three months. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. KGI Securities upgraded 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. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Barclays lifted their price target on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Nine analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $248.12.

About Tesla

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.