Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 21,559 shares of the electric vehicle producer’s stock after acquiring an additional 3,017 shares during the period. Lake Street Advisors Group LLC’s holdings in Tesla were worth $5,641,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position 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 purchasing an additional 206,248 shares in the last quarter. Morse Asset Management Inc raised its position in Tesla by 138.1% in the 2nd 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 raised its position in Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after purchasing an additional 27,130 shares in the last quarter. Entropy Technologies LP acquired a new stake in Tesla in the 1st quarter valued at about $1,941,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Tesla in the 1st quarter valued at about $79,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of a number of analyst reports. William Blair began coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a report on Wednesday. Piper Sandler increased their price objective on Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Citigroup dropped their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $218.18.

Tesla Price Performance

Shares of TSLA traded up $7.17 during mid-day trading on Friday, hitting $267.65. The company’s stock had a trading volume of 56,824,441 shares, compared to its average volume of 94,178,055. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $228.54 and a 200 day simple moving average of $206.41. The firm has a market capitalization of $855.05 billion, a P/E ratio of 73.17, a P/E/G ratio of 6.24 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. Analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by insiders.

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.