McAdam LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

McAdam LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,232 shares of the electric vehicle producer’s stock after buying an additional 100 shares during the quarter. McAdam LLC’s holdings in Tesla were worth $1,892,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TSLA. Bank & Trust Co bought a new stake in shares of Tesla during the second quarter valued at approximately $25,000. Clean Yield Group lifted its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC boosted its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the second quarter valued at about $26,000. Finally, M&R Capital Management Inc. increased its holdings in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TSLA. TD Cowen lifted their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Jefferies Financial Group boosted their target price on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday. Finally, 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. Eight 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. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $211.63.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction 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 directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $213.65 on Thursday. The business has a fifty day moving average of $228.54 and a 200 day moving average of $206.41. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The firm has a market capitalization of $682.53 billion, a price-to-earnings ratio of 60.01, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the firm earned $0.78 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current 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.