McBroom & Associates LLC Purchases 1,646 Shares of Tesla, Inc. (NASDAQ:TSLA)

McBroom & Associates LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,835 shares of the electric vehicle producer’s stock after purchasing an additional 1,646 shares during the quarter. Tesla comprises 3.8% of McBroom & Associates LLC’s investment portfolio, making the stock its 15th biggest holding. McBroom & Associates LLC’s holdings in Tesla were worth $6,236,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Waypoint Capital Advisors LLC boosted its holdings in shares of Tesla by 28.0% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 1,391 shares of the electric vehicle producer’s stock valued at $364,000 after buying an additional 304 shares in the last quarter. Chicago Capital LLC lifted its position in Tesla by 5.4% during the 3rd quarter. Chicago Capital LLC now owns 17,988 shares of the electric vehicle producer’s stock valued at $4,706,000 after acquiring an additional 925 shares during the period. Everett Harris & Co. CA boosted its stake in Tesla by 8.1% during the third quarter. Everett Harris & Co. CA now owns 2,680 shares of the electric vehicle producer’s stock worth $701,000 after acquiring an additional 200 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in Tesla by 0.6% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 23,711 shares of the electric vehicle producer’s stock worth $6,204,000 after purchasing an additional 133 shares during the period. Finally, Clarity Wealth Advisors LLC lifted its holdings in shares of Tesla by 4.5% during the third quarter. Clarity Wealth Advisors LLC now owns 12,568 shares of the electric vehicle producer’s stock valued at $3,288,000 after purchasing an additional 540 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSLA. Piper Sandler raised their price objective on Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Mizuho lifted their target price on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, Guggenheim raised their price target on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $210.72.

Tesla Stock Performance

TSLA opened at $220.70 on Friday. The firm has a market cap of $703.86 billion, a P/E ratio of 56.30, a PEG ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a 50 day simple moving average of $227.67 and a two-hundred day simple moving average of $205.39. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last issued its 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the prior year, the company posted $0.78 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

About Tesla

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.