Inspire Trust Co. N.A. Buys 1,548 Shares of Tesla, Inc. (NASDAQ:TSLA)

Inspire Trust Co. N.A. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 23.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,200 shares of the electric vehicle producer’s stock after buying an additional 1,548 shares during the period. Inspire Trust Co. N.A.’s holdings in Tesla were worth $2,145,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Transcendent Capital Group LLC acquired a new stake in Tesla during the 3rd quarter worth about $29,000. Clean Yield Group raised its position in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings 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 worth $26,000 after purchasing an additional 81 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the 2nd quarter worth $26,000. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Tesla in the 3rd quarter valued at approximately $35,000. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Robert W. Baird reiterated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research note on Tuesday, August 20th. Royal Bank of Canada raised their target price on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday, November 15th. Cantor Fitzgerald boosted their price objective on shares of Tesla from $255.00 to $365.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have assigned 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 target price of $257.36.

Tesla Stock Performance

Shares of TSLA stock opened at $418.10 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.34 trillion, a PE ratio of 114.55, a P/E/G ratio of 10.52 and a beta of 2.36. The company’s fifty day simple moving average is $298.02 and its 200-day simple moving average is $244.72. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $429.30.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 522,886 shares of company stock worth $171,393,831 in the last 90 days. 20.70% of the stock is owned by company insiders.

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.