Waterway Wealth Management LLC Buys Shares of 1,129 Tesla, Inc. (NASDAQ:TSLA)

Waterway Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,129 shares of the electric vehicle producer’s stock, valued at approximately $295,000.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after buying an additional 206,248 shares in the last quarter. Morse Asset Management Inc boosted 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 buying an additional 3,462 shares in the last quarter. NewEdge Advisors LLC boosted 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. Entropy Technologies LP purchased a new stake in shares of Tesla in the first quarter valued at approximately $1,941,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Tesla during the first quarter worth $79,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TSLA shares. KGI Securities reiterated a “neutral” rating and set a $236.00 target price on shares of Tesla in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. Mizuho boosted their price target on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Citigroup cut their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 price target on shares of Tesla in a report on Friday, September 13th. 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 data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $211.63.

Tesla Stock Down 0.8 %

TSLA opened at $218.85 on Tuesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month 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 stock has a market cap of $699.15 billion, a P/E ratio of 61.47, a P/E/G ratio of 6.31 and a beta of 2.29. The stock’s 50 day moving average price is $228.09 and its 200 day moving average price is $205.99.

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

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on 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 directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction 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 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 disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 in the last three months. 20.70% of the stock is owned by company insiders.

Tesla 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.