Western Pacific Wealth Management LP Buys 325 Shares of Tesla, Inc. (NASDAQ:TSLA)

Western Pacific Wealth Management LP lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,652 shares of the electric vehicle producer’s stock after acquiring an additional 325 shares during the quarter. Tesla accounts for about 0.8% of Western Pacific Wealth Management LP’s investment portfolio, making the stock its 14th largest holding. Western Pacific Wealth Management LP’s holdings in Tesla were worth $1,217,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. JB Capital LLC grew its position in Tesla by 12.1% during the third quarter. JB Capital LLC now owns 5,368 shares of the electric vehicle producer’s stock valued at $1,404,000 after buying an additional 581 shares during the period. Washington Trust Bank bought a new stake in Tesla during the third quarter valued at approximately $227,000. Deseret Mutual Benefit Administrators grew its position in Tesla by 18.1% during the third quarter. Deseret Mutual Benefit Administrators now owns 554 shares of the electric vehicle producer’s stock valued at $145,000 after buying an additional 85 shares during the period. Principal Financial Group Inc. grew its position in Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after buying an additional 194,796 shares during the period. Finally, BNC Wealth Management LLC grew its position in Tesla by 1.2% during the third quarter. BNC Wealth Management LLC now owns 40,103 shares of the electric vehicle producer’s stock valued at $10,492,000 after buying an additional 464 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 2.9 %

Shares of TSLA opened at $296.91 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.75. The company has a market cap of $953.10 billion, a P/E ratio of 81.35, a P/E/G ratio of 9.51 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $237.23 and its 200-day simple moving average is $213.07.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating 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 business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 1.96 EPS for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This 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 the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $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 available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,797 shares of company stock valued at $19,211,821. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSLA has been the subject of several recent research reports. Stifel Nicolaus boosted their target price on shares of Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Wedbush reiterated an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research report on Thursday, October 24th. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a research report on Wednesday, July 24th. Finally, William Blair initiated coverage on shares of Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $222.03.

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.