FRG Family Wealth Advisors LLC Acquires 231 Shares of Tesla, Inc. (NASDAQ:TSLA)

FRG Family Wealth Advisors LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the third quarter, HoldingsChannel reports. The firm owned 6,388 shares of the electric vehicle producer’s stock after buying an additional 231 shares during the period. FRG Family Wealth Advisors LLC’s holdings in Tesla were worth $1,671,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. World Investment Advisors LLC grew its position in Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after acquiring an additional 184,459 shares during the last quarter. Vinva Investment Management Ltd raised its position in Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock worth $30,593,000 after purchasing an additional 43,685 shares during the period. Oppenheimer & Co. Inc. lifted its stake in Tesla by 1.2% in the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares during the last quarter. MML Investors Services LLC grew its stake in shares of Tesla by 3.3% during the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after buying an additional 9,919 shares during the last quarter. Finally, Tyler Stone Wealth Management increased its holdings in shares of Tesla by 109.6% in the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after buying an additional 4,929 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the company’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 sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 522,886 shares of company stock valued at $171,393,831. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $389.79 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market capitalization of $1.25 trillion, a PE ratio of 106.79, a P/E/G ratio of 12.64 and a beta of 2.36. The company has a 50 day moving average price of $288.09 and a 200-day moving average price of $240.67. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $404.80.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Stifel Nicolaus lifted their price target on Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Wedbush reissued an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. HSBC reaffirmed a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. Finally, Truist Financial increased their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $248.12.

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.