Douglas Lane & Associates LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Douglas Lane & Associates LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 798 shares of the electric vehicle producer’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC boosted its stake in Tesla by 37.7% in the 3rd quarter. CVA Family Office LLC now owns 6,572 shares of the electric vehicle producer’s stock worth $1,719,000 after buying an additional 1,798 shares during the last quarter. Shira Ridge Wealth Management acquired a new stake in shares of Tesla in the third quarter worth approximately $224,000. Birch Hill Investment Advisors LLC grew its holdings in Tesla by 6.1% in the third quarter. Birch Hill Investment Advisors LLC now owns 1,454 shares of the electric vehicle producer’s stock valued at $380,000 after purchasing an additional 83 shares during the period. Ballew Advisors Inc increased its position in Tesla by 2.1% during the third quarter. Ballew Advisors Inc now owns 3,114 shares of the electric vehicle producer’s stock worth $751,000 after purchasing an additional 64 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its stake in Tesla by 37.6% during the third quarter. CHICAGO TRUST Co NA now owns 2,197 shares of the electric vehicle producer’s stock worth $575,000 after purchasing an additional 600 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TSLA shares. KGI Securities reissued a “neutral” rating and set a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. Robert W. Baird reissued an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, September 26th. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $210.72.

Tesla Trading Down 8.8 %

Shares of NASDAQ:TSLA opened at $217.80 on Monday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $695.79 billion, a PE ratio of 61.18, a P/E/G ratio of 6.48 and a beta of 2.29. The company’s 50-day moving average price is $225.43 and its 200 day moving average price is $203.96.

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

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’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 owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. 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 ninety days, insiders have sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 20.70% of the company’s stock.

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.