Rockbridge Investment Management LCC Purchases 530 Shares of Tesla, Inc. (NASDAQ:TSLA)

Rockbridge Investment Management LCC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,789 shares of the electric vehicle producer’s stock after acquiring an additional 530 shares during the period. Rockbridge Investment Management LCC’s holdings in Tesla were worth $1,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Bank & Trust Co bought a new position in shares of Tesla in the 2nd quarter worth $25,000. Clean Yield Group raised its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC lifted its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter valued at about $26,000. Finally, M&R Capital Management Inc. raised its stake in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 8.2 %

Shares of TSLA opened at $321.22 on Friday. The stock has a fifty day simple moving average of $241.18 and a two-hundred day simple moving average of $214.90. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.03 trillion, a PE ratio of 88.01, a price-to-earnings-growth ratio of 9.51 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $328.71.

Tesla (NASDAQ:TSLA) last posted its quarterly 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. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 1.96 EPS for the current year.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla 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 completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’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 completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,797 shares of company stock worth $19,211,821. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. Stifel Nicolaus lifted their price target on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada boosted their target price on Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Eight equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $222.03.

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.