EP Wealth Advisors LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

EP Wealth Advisors LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,870 shares of the electric vehicle producer’s stock after buying an additional 3,222 shares during the period. EP Wealth Advisors LLC’s holdings in Tesla were worth $17,495,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Transcendent Capital Group LLC acquired a new stake in shares of Tesla in the third quarter worth approximately $29,000. Clean Yield Group boosted its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC grew its holdings in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter valued at about $26,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Tesla in the third quarter worth about $35,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TSLA. Barclays increased their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Wolfe Research started coverage on Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research note on Thursday, October 24th. Canaccord Genuity Group raised their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price target on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $245.84.

Insider Activity

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on 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 approximately $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 accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 520,280 shares of company stock worth $170,418,640. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

Tesla stock opened at $389.22 on Friday. 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, Inc. has a 52-week low of $138.80 and a 52-week high of $389.49. The firm has a market cap of $1.25 trillion, a PE ratio of 106.64, a price-to-earnings-growth ratio of 11.62 and a beta of 2.36. The company’s 50 day moving average is $285.53 and its two-hundred day moving average is $238.74.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.