Davies Financial Advisors Inc. Acquires 459 Shares of Tesla, Inc. (NASDAQ:TSLA)

Davies Financial Advisors Inc. raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 14.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,600 shares of the electric vehicle producer’s stock after buying an additional 459 shares during the period. Davies Financial Advisors Inc.’s holdings in Tesla were worth $942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank & Trust Co acquired a new stake in Tesla during the second quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla during the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Clean Yield Group grew its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. grew its position in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a report on Wednesday, July 24th. Guggenheim raised their target price on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a report on Friday, September 13th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 target price on shares of Tesla in a report on Monday, July 1st. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $210.90.

Tesla Stock Performance

Shares of TSLA stock traded down $18.62 during trading on Friday, hitting $220.15. The company’s stock had a trading volume of 95,506,945 shares, compared to its average volume of 95,003,172. The company has a market cap of $703.30 billion, a PE ratio of 61.87, a P/E/G ratio of 6.54 and a beta of 2.29. 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 business has a fifty day moving average of $225.23 and a 200-day moving average of $203.30. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00.

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

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction 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 sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

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.