Frisch Financial Group Inc. Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Frisch Financial Group Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 5.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,895 shares of the electric vehicle producer’s stock after purchasing an additional 154 shares during the period. Frisch Financial Group Inc.’s holdings in Tesla were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Valley Wealth Managers Inc. purchased a new position in Tesla during the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC boosted its stake 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 worth $26,000 after buying an additional 81 shares during the period. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter valued at about $29,000. Clean Yield Group raised its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in Tesla during the 3rd quarter worth approximately $35,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,903,716. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 522,886 shares of company stock valued at $171,393,831 over the last quarter. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and upped their price target for the stock from $85.00 to $380.00 in a research note on Monday, December 2nd. UBS Group upped their price objective on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. Wells Fargo & Company lifted 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. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price target on shares of Tesla in a report on Wednesday, October 23rd. Finally, HSBC reaffirmed a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $248.12.

Tesla Price Performance

NASDAQ:TSLA opened at $389.79 on Tuesday. The firm has a market cap of $1.25 trillion, a price-to-earnings ratio of 106.79, a price-to-earnings-growth ratio of 12.64 and a beta of 2.36. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $404.80. 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 company’s 50-day moving average is $288.09 and its two-hundred day moving average is $240.67.

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