Albion Financial Group UT Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Albion Financial Group UT raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,065 shares of the electric vehicle producer’s stock after purchasing an additional 1,090 shares during the quarter. Albion Financial Group UT’s holdings in Tesla were worth $1,848,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hoese & Co LLP acquired a new stake in shares of Tesla in the 3rd quarter valued at about $78,000. Watts Gwilliam & Co. LLC acquired a new stake in Tesla during the third quarter valued at approximately $3,074,000. Tobam bought a new position in Tesla during the 3rd quarter worth approximately $678,000. Strategic Advisors LLC increased its holdings in shares of Tesla by 10.3% in the 3rd quarter. Strategic Advisors LLC now owns 19,702 shares of the electric vehicle producer’s stock valued at $5,155,000 after acquiring an additional 1,833 shares during the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management lifted its stake in Tesla by 9.5% during the third quarter. B & T Capital Management DBA Alpha Capital Management now owns 2,007 shares of the electric vehicle producer’s stock worth $525,000 after purchasing an additional 174 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 in the last 90 days. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on TSLA. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Canaccord Genuity Group reiterated a “buy” rating and set a $254.00 price objective on shares of Tesla in a research note on Friday, September 13th. Royal Bank of Canada lifted their target price on Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday. Finally, China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research report on Friday, July 5th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $210.90.

Tesla Stock Down 0.9 %

Shares of Tesla stock opened at $238.77 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $225.23 and a two-hundred day moving average price of $203.30. The stock has a market capitalization of $762.78 billion, a P/E ratio of 67.07, a PEG ratio of 6.54 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. Equities analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

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.