Perfromance Wealth Partners LLC Acquires 368 Shares of Tesla, Inc. (NASDAQ:TSLA)

Perfromance Wealth Partners LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,994 shares of the electric vehicle producer’s stock after acquiring an additional 368 shares during the period. Perfromance Wealth Partners LLC’s holdings in Tesla were worth $2,876,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after purchasing an additional 206,248 shares during the last quarter. Morse Asset Management Inc raised its stake in shares of Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after acquiring an additional 3,462 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock worth $7,013,000 after acquiring an additional 1,943 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after buying an additional 27,130 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Tesla in the first quarter worth about $1,941,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on TSLA. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Friday. The Goldman Sachs Group restated a “neutral” rating and issued a $230.00 price target on shares of Tesla in a research report on Friday. Piper Sandler upped their price objective on Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $210.72.

Tesla Stock Down 8.8 %

Shares of NASDAQ:TSLA traded down $20.97 during midday trading on Friday, hitting $217.80. The stock had a trading volume of 142,628,874 shares, compared to its average volume of 95,239,352. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The business’s 50-day simple moving average is $225.43 and its 200-day simple moving average is $203.61. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The company has a market cap of $695.79 billion, a P/E ratio of 61.18, a PEG ratio of 6.54 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on 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 directly owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 completion of the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the business’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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $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 have sold a total of 74,661 shares of company stock valued at $16,663,291 over the last 90 days. 20.70% of the stock is currently owned by insiders.

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.