Folger Nolan Fleming Douglas Capital Management Inc. Has $1.32 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,042 shares of the electric vehicle producer’s stock after acquiring an additional 142 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Tesla were worth $1,319,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in TSLA. Oak Harvest Investment Services bought a new stake in Tesla in the 3rd quarter valued at about $319,000. Burr Financial Services LLC purchased a new position in shares of Tesla in the 3rd quarter worth approximately $9,892,000. JFS Wealth Advisors LLC grew its holdings in shares of Tesla by 75.1% in the third quarter. JFS Wealth Advisors LLC now owns 2,014 shares of the electric vehicle producer’s stock valued at $527,000 after acquiring an additional 864 shares in the last quarter. Diversify Wealth Management LLC increased its position in shares of Tesla by 1.5% during the third quarter. Diversify Wealth Management LLC now owns 24,078 shares of the electric vehicle producer’s stock valued at $6,300,000 after acquiring an additional 360 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its holdings in Tesla by 13.1% during the third quarter. First Trust Direct Indexing L.P. now owns 81,566 shares of the electric vehicle producer’s stock worth $21,340,000 after acquiring an additional 9,426 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several research analyst reports. Mizuho raised their target price on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research report on Wednesday, July 24th. Piper Sandler lifted their price target on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Bank of America raised their target price on Tesla from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Royal Bank of Canada upped their price target on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $219.45.

Insider Buying and Selling at Tesla

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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, 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. In the last three months, insiders have sold 12,297 shares of company stock valued at $3,065,866. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of Tesla stock opened at $257.55 on Thursday. The company has a market cap of $826.75 billion, a PE ratio of 70.56, a P/E/G ratio of 7.59 and a beta of 2.29. The business has a 50 day moving average of $232.78 and a 200 day moving average of $209.50. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the company posted $0.53 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

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.