Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,330 shares of the electric vehicle producer’s stock after acquiring an additional 2,818 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Tesla were worth $11,598,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the 3rd quarter worth $29,000. Bank & Trust Co purchased a new position in Tesla during the second quarter worth about $25,000. Clean Yield Group boosted its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the 2nd quarter valued at about $26,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA opened at $311.18 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a market cap of $998.91 billion, a price-to-earnings ratio of 85.25, a PEG ratio of 10.73 and a beta of 2.29. The stock has a 50 day moving average of $248.48 and a 200-day moving average of $218.94.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TSLA shares. Wells Fargo & Company boosted their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Wolfe Research started coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Canaccord Genuity Group lifted their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. William Blair began coverage on Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Finally, Barclays boosted their target price on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $228.24.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’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 transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock worth $57,616,781 over the last quarter. 20.70% of the stock is owned by company insiders.

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.