Stablepoint Partners LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Stablepoint Partners LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,676 shares of the electric vehicle producer’s stock after acquiring an additional 385 shares during the quarter. Stablepoint Partners LLC’s holdings in Tesla were worth $2,532,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Sapient Capital LLC lifted its position in shares of Tesla by 2.0% in the third quarter. Sapient Capital LLC now owns 12,004 shares of the electric vehicle producer’s stock valued at $3,141,000 after acquiring an additional 233 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of Tesla during the third quarter worth about $289,000. Procyon Advisors LLC grew its stake in Tesla by 10.7% during the 3rd quarter. Procyon Advisors LLC now owns 67,217 shares of the electric vehicle producer’s stock valued at $17,584,000 after purchasing an additional 6,487 shares in the last quarter. Accelerate Investment Advisors LLC bought a new position in shares of Tesla during the third quarter worth about $551,000. Finally, VitalStone Financial LLC increased its holdings in shares of Tesla by 52.3% in the 3rd quarter. VitalStone Financial LLC now owns 3,095 shares of the electric vehicle producer’s stock valued at $810,000 after acquiring an additional 1,063 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $0.73 during midday trading on Monday, reaching $218.53. 19,317,941 shares of the stock traded hands, compared to its average volume of 94,851,172. The company’s 50 day moving average is $225.43 and its 200 day moving average is $203.96. 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 stock has a market capitalization of $696.94 billion, a PE ratio of 55.56, a P/E/G ratio of 6.48 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00.

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

Analyst Ratings Changes

Several research firms recently weighed in on TSLA. Stifel Nicolaus started coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. KGI Securities reissued a “neutral” rating and issued a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. TD Cowen lifted their target price on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Finally, Wolfe Research began coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $210.72.

Insider Buying and Selling at Tesla

In other Tesla 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is currently owned by insiders.

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.