Diversify Wealth Management LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Diversify Wealth Management LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.5% during the third quarter, HoldingsChannel.com reports. The fund owned 24,078 shares of the electric vehicle producer’s stock after purchasing an additional 360 shares during the quarter. Diversify Wealth Management LLC’s holdings in Tesla were worth $6,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bank & Trust Co bought a new stake in shares of Tesla during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% in 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. Clean Yield Group grew its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. grew its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. HSBC reiterated a “reduce” rating and issued a $124.00 target price on shares of Tesla in a report on Friday, October 11th. New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Truist Financial raised their target price on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Finally, Morgan Stanley reissued an “overweight” rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $219.45.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,297 shares of company stock worth $3,065,866 over the last ninety days. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

Shares of TSLA traded up $1.85 during midday trading on Wednesday, reaching $261.37. 27,549,168 shares of the stock were exchanged, compared to its average volume of 94,358,898. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $273.54. The company has a market cap of $839.01 billion, a P/E ratio of 71.63, a PEG ratio of 7.59 and a beta of 2.29. The stock’s 50 day simple moving average is $232.09 and its 200 day simple moving average is $209.16. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results 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 net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Tesla Company 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.