Vest Financial LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Vest Financial LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 202.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 10,286 shares of the electric vehicle producer’s stock after purchasing an additional 6,881 shares during the quarter. Vest Financial LLC’s holdings in Tesla were worth $2,691,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TSLA. Bank & Trust Co purchased a new stake in shares of Tesla during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC raised its stake 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 valued at $26,000 after purchasing an additional 81 shares during the period. Clean Yield Group raised its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Finally, M&R Capital Management Inc. raised its stake in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $220.70 on Monday. 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 company’s 50-day moving average price is $227.67 and its two-hundred day moving average price is $205.65. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The stock has a market cap of $705.06 billion, a PE ratio of 61.99, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the firm posted $0.78 earnings per share. Tesla’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $147.00 to $197.00 in a research note on Friday, July 12th. KGI Securities restated a “neutral” rating and issued a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. Morgan Stanley restated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research note on Monday, October 7th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $210.72.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 in the company, valued at approximately $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 have sold 74,661 shares of company stock worth $16,663,291. 20.70% of the stock is owned by corporate insiders.

Tesla Company 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.