Turtle Creek Wealth Advisors LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Turtle Creek Wealth Advisors LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 11.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,943 shares of the electric vehicle producer’s stock after acquiring an additional 411 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Tesla were worth $1,032,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank & Trust Co bought a new position in shares of Tesla in the second quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter valued at approximately $26,000. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% during the second 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 last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the third quarter worth $29,000. Finally, Clean Yield Group boosted its position in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TSLA shares. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a report on Thursday, October 24th. Wells Fargo & Company raised 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. The Goldman Sachs Group upped their price target on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. Finally, Argus restated a “buy” rating and set a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $230.18.

Tesla Stock Up 3.1 %

Shares of TSLA stock traded up $9.54 during mid-day trading on Friday, hitting $320.72. 114,440,286 shares of the stock traded hands, compared to its average volume of 96,026,047. The stock’s fifty day moving average is $252.30 and its two-hundred day moving average is $220.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64. The stock has a market cap of $1.03 trillion, a P/E ratio of 87.87, a P/E/G ratio of 10.73 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla 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 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 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is owned by 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.