Proactive Wealth Strategies LLC Makes New $1.53 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

Proactive Wealth Strategies LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, HoldingsChannel reports. The institutional investor purchased 5,865 shares of the electric vehicle producer’s stock, valued at approximately $1,534,000.

Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Crystal Rock Capital Management lifted its position in Tesla by 20.9% during the 3rd quarter. Crystal Rock Capital Management now owns 9,555 shares of the electric vehicle producer’s stock worth $2,500,000 after acquiring an additional 1,650 shares during the period. Harbour Investments Inc. raised its stake in shares of Tesla by 0.9% in the third quarter. Harbour Investments Inc. now owns 24,855 shares of the electric vehicle producer’s stock worth $6,503,000 after purchasing an additional 227 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Tesla during the third quarter worth about $2,642,000. Everhart Financial Group Inc. boosted its position in Tesla by 15.5% in the third quarter. Everhart Financial Group Inc. now owns 14,208 shares of the electric vehicle producer’s stock valued at $3,717,000 after buying an additional 1,903 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Tesla by 20.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 16,130 shares of the electric vehicle producer’s stock worth $4,220,000 after buying an additional 2,764 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA stock opened at $350.00 on Tuesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.12 trillion, a P/E ratio of 95.89, a PEG ratio of 10.59 and a beta of 2.29. The firm has a fifty day moving average price of $243.90 and a 200 day moving average price of $217.03.

Tesla (NASDAQ:TSLA) last announced 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 company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on TSLA. Barclays upped 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. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. Phillip Securities upgraded Tesla to a “moderate sell” rating in a research note on Friday, October 25th. Piper Sandler upped their target price on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group lifted their price target on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $225.06.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock worth $19,211,821 in the last ninety days. 20.70% of the stock is 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.