Market Street Wealth Management Advisors LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Market Street Wealth Management Advisors LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,053 shares of the electric vehicle producer’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after acquiring an additional 206,248 shares during the last quarter. Morse Asset Management Inc grew its position in shares of Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after buying an additional 27,130 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Tesla in the first quarter worth about $1,941,000. Finally, Future Financial Wealth Managment LLC bought a new position in Tesla during the first quarter valued at approximately $79,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 0.8 %

NASDAQ TSLA opened at $221.33 on Thursday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a 50 day moving average price of $226.81 and a 200 day moving average price of $204.69. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm has a market cap of $707.07 billion, a PE ratio of 62.17, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock valued at $16,663,291 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Argus reissued a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. The Goldman Sachs Group restated a “neutral” rating and set a $230.00 target price on shares of Tesla in a research report on Friday, October 11th. Truist Financial increased their price target on shares of Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. Morgan Stanley restated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Finally, Piper Sandler boosted their target price on Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $210.72.

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.