Strong Tower Advisory Services Has $8.92 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Strong Tower Advisory Services raised its position in Tesla, Inc. (NASDAQ:TSLA) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,076 shares of the electric vehicle producer’s stock after purchasing an additional 1,095 shares during the quarter. Tesla accounts for approximately 2.5% of Strong Tower Advisory Services’ holdings, making the stock its 13th largest holding. Strong Tower Advisory Services’ holdings in Tesla were worth $8,915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Integris Wealth Management LLC increased its position in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc increased its position in Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares during the last quarter. Echo Wealth Management LLC increased its position in Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after buying an additional 44 shares during the last quarter. WASHINGTON TRUST Co increased its position in Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC increased its position in Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after buying an additional 45 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Wedbush reissued an “outperform” rating and set a $300.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Glj Research reissued a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, September 26th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Monday. Finally, The Goldman Sachs Group reduced their target price on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $210.90.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. 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 the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, 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 sold 74,661 shares of company stock valued at $16,663,291 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA traded down $16.26 during trading on Friday, hitting $222.51. 71,351,258 shares of the company traded hands, compared to its average volume of 94,880,555. The company has a market cap of $710.84 billion, a PE ratio of 61.95, a P/E/G ratio of 6.54 and a beta of 2.29. The stock’s 50-day simple moving average is $225.23 and its two-hundred day simple moving average is $203.30. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $24.38 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

About Tesla

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.