First Dallas Securities Inc. Takes Position in Tesla, Inc. (NASDAQ:TSLA)

First Dallas Securities Inc. bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 910 shares of the electric vehicle producer’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Valley Wealth Managers Inc. acquired a new stake in Tesla in the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the 3rd quarter valued at $29,000. Clean Yield Group lifted 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 acquiring an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the 3rd quarter valued at $35,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 522,886 shares of company stock worth $171,393,831. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 0.1 %

TSLA opened at $389.79 on Tuesday. The stock has a market capitalization of $1.25 trillion, a P/E 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 firm’s fifty day simple moving average is $288.09 and its 200 day simple moving average is $240.67. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLAGet Free Report) 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 net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the business earned $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TSLA. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Piper Sandler boosted their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. William Blair began coverage on shares of Tesla in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $248.12.

View Our Latest Stock Report on Tesla

Tesla Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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