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

Carolina Wealth Advisors LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,310 shares of the electric vehicle producer’s stock after purchasing an additional 82 shares during the quarter. Carolina Wealth Advisors LLC’s holdings in Tesla were worth $343,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Northwest Investment Counselors LLC purchased a new stake in shares of Tesla in the first quarter valued at approximately $279,000. Allen Mooney & Barnes Investment Advisors LLC raised its holdings in shares of Tesla by 21.1% during the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 1,438 shares of the electric vehicle producer’s stock worth $251,000 after acquiring an additional 251 shares during the period. Strategic Planning Group LLC boosted its position in shares of Tesla by 33.2% during the 1st quarter. Strategic Planning Group LLC now owns 35,406 shares of the electric vehicle producer’s stock valued at $6,224,000 after acquiring an additional 8,815 shares during the last quarter. Strong Tower Advisory Services increased its position in Tesla by 1.1% during the first quarter. Strong Tower Advisory Services now owns 30,994 shares of the electric vehicle producer’s stock worth $5,431,000 after purchasing an additional 333 shares during the last quarter. Finally, McNaughton Wealth Management LLC raised its stake in Tesla by 9.6% during the first quarter. McNaughton Wealth Management LLC now owns 3,409 shares of the electric vehicle producer’s stock worth $599,000 after purchasing an additional 300 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,661 shares of company stock worth $16,663,291. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent analyst reports. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a report on Friday, July 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Glj Research reissued a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Thursday. Citigroup decreased their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a research report on Wednesday, July 24th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $210.72.

Tesla Stock Performance

Shares of TSLA stock traded down $3.36 during trading hours on Monday, hitting $217.34. The stock had a trading volume of 37,697,109 shares, compared to its average volume of 94,087,492. The stock’s 50 day moving average is $227.67 and its 200 day moving average is $205.65. The firm has a market capitalization of $694.32 billion, a PE ratio of 61.05, a PEG ratio of 6.31 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 announced its earnings results 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). The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal 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.