Cassaday & Co Wealth Management LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Cassaday & Co Wealth Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 13,752 shares of the electric vehicle producer’s stock after buying an additional 79 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Tesla were worth $3,598,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TSLA. China Universal Asset Management Co. Ltd. grew its position in shares of Tesla by 0.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after purchasing an additional 331 shares during the period. Trustmark National Bank Trust Department purchased a new position in shares of Tesla during the 1st quarter worth about $219,000. PAX Financial Group LLC boosted its position in shares of Tesla by 9.2% in the first quarter. PAX Financial Group LLC now owns 3,276 shares of the electric vehicle producer’s stock worth $576,000 after acquiring an additional 277 shares during the last quarter. Safeguard Investment Advisory Group LLC boosted its holdings in shares of Tesla by 27.8% in the 1st quarter. Safeguard Investment Advisory Group LLC now owns 6,329 shares of the electric vehicle producer’s stock valued at $1,113,000 after purchasing an additional 1,375 shares during the last quarter. Finally, Hilltop Partners LLC grew its stake in shares of Tesla by 25.4% during the 1st quarter. Hilltop Partners LLC now owns 6,084 shares of the electric vehicle producer’s stock valued at $1,069,000 after buying an additional 1,231 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $320.72 on Monday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The firm has a market capitalization of $1.03 trillion, a PE ratio of 87.87, a P/E/G ratio of 10.42 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The business’s fifty day moving average price is $252.30 and its two-hundred day moving average price is $221.01.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $25.47 billion. During the same period in the previous year, the business posted $0.53 EPS. Tesla’s revenue was up 7.8% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. William Blair initiated coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Piper Sandler boosted their price objective on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Nine equities 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $230.18.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated 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 sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were 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 $26,258,000. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,797 shares of company stock valued at $57,616,781 in the last three months. 20.70% of the stock is currently owned by corporate 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.