Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Naviter Wealth LLC

Naviter Wealth LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,013 shares of the electric vehicle producer’s stock after buying an additional 5,764 shares during the quarter. Tesla comprises 1.0% of Naviter Wealth LLC’s holdings, making the stock its 19th largest position. Naviter Wealth LLC’s holdings in Tesla were worth $7,329,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its holdings in Tesla by 38.5% in the fourth quarter. Fisher Asset Management LLC now owns 21,119 shares of the electric vehicle producer’s stock valued at $5,248,000 after acquiring an additional 5,874 shares during the last quarter. Signal Advisors Wealth LLC grew its holdings in shares of Tesla by 7.1% during the 1st quarter. Signal Advisors Wealth LLC now owns 22,106 shares of the electric vehicle producer’s stock worth $3,886,000 after purchasing an additional 1,471 shares during the period. Thomasville National Bank increased its position in shares of Tesla by 14.2% during the 1st quarter. Thomasville National Bank now owns 1,548 shares of the electric vehicle producer’s stock worth $272,000 after purchasing an additional 193 shares during the last quarter. Czech National Bank raised its holdings in Tesla by 0.7% in the 1st quarter. Czech National Bank now owns 487,634 shares of the electric vehicle producer’s stock valued at $85,721,000 after buying an additional 3,155 shares during the period. Finally, Abacus Wealth Partners LLC lifted its position in Tesla by 25.7% in the first quarter. Abacus Wealth Partners LLC now owns 3,053 shares of the electric vehicle producer’s stock valued at $537,000 after buying an additional 624 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TSLA shares. William Blair initiated coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Wells Fargo & Company restated an “underweight” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. UBS Group downgraded Tesla from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $147.00 to $197.00 in a report on Friday, July 12th. Argus restated a “buy” rating and set a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Finally, Piper Sandler increased their price target on shares of Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $210.72.

Tesla Stock Performance

Shares of TSLA stock traded down $1.26 during trading hours on Thursday, hitting $220.07. The stock had a trading volume of 6,154,041 shares, compared to its average volume of 94,367,234. The stock’s 50 day moving average is $226.81 and its 200 day moving average is $204.69. The firm has a market capitalization of $703.04 billion, a PE ratio of 62.17, a PEG ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last issued 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred 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 directly owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’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 value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The trade was 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 valued at $16,663,291 in the last ninety days. Insiders own 20.70% of the company’s stock.

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.