Clarity Wealth Advisors LLC Buys 540 Shares of Tesla, Inc. (NASDAQ:TSLA)

Clarity Wealth Advisors LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 4.5% in the third quarter, Holdings Channel.com reports. The fund owned 12,568 shares of the electric vehicle producer’s stock after acquiring an additional 540 shares during the quarter. Clarity Wealth Advisors LLC’s holdings in Tesla were worth $3,288,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Bank & Trust Co bought a new stake in shares of Tesla during the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% in the 2nd 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 last quarter. Clean Yield Group raised its position in shares of 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 buying an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. increased its stake in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’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 value of $65,865.69. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock worth $16,663,291 over the last three months. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Down 0.1 %

TSLA traded down $0.19 during midday trading on Friday, reaching $220.70. The company’s stock had a trading volume of 49,611,867 shares, compared to its average volume of 94,365,750. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The stock’s 50-day moving average is $227.67 and its 200-day moving average is $205.12. The firm has a market capitalization of $703.86 billion, a price-to-earnings ratio of 56.30, a PEG ratio of 5.94 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 EPS. As a group, research analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TSLA shares. Piper Sandler upped their price objective on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. HSBC reaffirmed a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Finally, Argus restated a “buy” rating and set a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $210.72.

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.