Cassady Schiller Wealth Management LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Cassady Schiller Wealth Management LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 12.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 602 shares of the electric vehicle producer’s stock after purchasing an additional 66 shares during the period. Cassady Schiller Wealth Management LLC’s holdings in Tesla were worth $158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Connable Office Inc. boosted its stake in shares of Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares in the last quarter. Integris Wealth Management LLC lifted its holdings in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after buying an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc boosted its position in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after acquiring an additional 43 shares in the last quarter. Echo Wealth Management LLC increased its holdings in shares of Tesla by 0.7% in the 2nd 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 period. Finally, Essex Savings Bank raised its position in shares of Tesla by 1.4% in the 3rd quarter. Essex Savings Bank now owns 3,128 shares of the electric vehicle producer’s stock worth $818,000 after acquiring an additional 44 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on 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 owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of 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 sold a total of 188,797 shares of company stock worth $57,616,781 over the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $320.72 on Friday. The company has a market capitalization of $1.03 trillion, a PE ratio of 87.87, a P/E/G ratio of 10.42 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average is $252.30 and its two-hundred day moving average is $220.72. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 earnings per share. Analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on TSLA. Guggenheim increased their price target on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th. The Goldman Sachs Group increased their target price on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Citigroup cut their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. William Blair began coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Finally, New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research note on Wednesday, July 24th. Nine research 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $230.18.

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.