Pekin Hardy Strauss Inc. Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Pekin Hardy Strauss Inc. bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 792 shares of the electric vehicle producer’s stock, valued at approximately $207,000.

Other hedge funds have also recently bought and sold shares of the company. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla during the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% in the 2nd 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 in the last quarter. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter valued at approximately $29,000. Finally, Clean Yield Group increased its position in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock valued at $92,956,692 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TSLA shares. Barclays lifted their price objective on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Guggenheim boosted their target price on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research note on Thursday, October 24th. Bank of America raised their target price on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Finally, Wedbush restated an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $231.06.

Tesla Stock Down 4.0 %

TSLA opened at $338.59 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.93. The business has a 50 day moving average of $266.31 and a 200-day moving average of $227.97. The stock has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 92.76, a P/E/G ratio of 11.45 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.