Falcon Wealth Planning Acquires 400 Shares of Tesla, Inc. (NASDAQ:TSLA)

Falcon Wealth Planning grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,398 shares of the electric vehicle producer’s stock after buying an additional 400 shares during the quarter. Falcon Wealth Planning’s holdings in Tesla were worth $2,459,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Integris Wealth Management LLC boosted its holdings in 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 lifted its holdings in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares during the period. Echo Wealth Management LLC boosted its stake in Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares during the last quarter. WASHINGTON TRUST Co raised its position in shares of Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC lifted its stake in shares of Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TSLA shares. Canaccord Genuity Group upped their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Wells Fargo & Company upped their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Bank of America lifted their price objective on shares of Tesla from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. New Street Research lowered shares of 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. Finally, StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $219.45.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $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 is available through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was 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 owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,297 shares of company stock valued at $4,072,906. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock traded up $9.22 during trading on Tuesday, hitting $252.06. 20,112,109 shares of the stock were exchanged, compared to its average volume of 93,714,242. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54. The stock has a market capitalization of $809.13 billion, a price-to-earnings ratio of 66.53, a price-to-earnings-growth ratio of 8.21 and a beta of 2.29. The company has a fifty day moving average price of $234.73 and a 200-day moving average price of $211.81. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

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.