Kolinsky Wealth Management LLC Purchases New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Kolinsky Wealth Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, HoldingsChannel reports. The fund purchased 1,150 shares of the electric vehicle producer’s stock, valued at approximately $301,000.

Several other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC increased its stake in Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares during the period. Clean Energy Transition LLP increased its stake in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC increased its stake in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Tesla by 13.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after buying an additional 2,946,763 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after buying an additional 1,479,378 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $345.16 on Friday. The company has a 50-day moving average of $274.55 and a 200-day moving average of $231.81. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 94.56, a PEG ratio of 10.81 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.53 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research note on Friday, October 11th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Finally, StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $231.06.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were 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 owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were 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 owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was 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 in the last ninety days. Insiders own 20.70% of the company’s stock.

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.