GSB Wealth Management LLC Buys New Position in Tesla, Inc. (NASDAQ:TSLA)

GSB Wealth Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 800 shares of the electric vehicle producer’s stock, valued at approximately $209,000.

Other large investors have also modified their holdings of the company. Bank & Trust Co acquired a new stake in Tesla during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla during the second quarter worth about $26,000. 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 during the last quarter. Clean Yield Group increased its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Finally, M&R Capital Management Inc. raised its stake in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 0.8 %

Shares of TSLA opened at $257.55 on Thursday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $273.54. The company has a market capitalization of $826.75 billion, a PE ratio of 70.56, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29. The stock has a fifty day moving average of $232.78 and a two-hundred day moving average of $209.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Truist Financial boosted 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. Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. TD Cowen lifted their target price on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Mizuho increased their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a report on Friday, July 5th. Eight equities research 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 stock presently has an average rating of “Hold” and a consensus target price of $219.45.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were 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 $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 value of $65,865.69. Following the sale, the senior vice president now 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. Over the last three months, insiders sold 12,297 shares of company stock worth $3,065,866. 20.70% of the stock is owned by company 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.