Beacon Investment Advisory Services Inc. Has $207,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Beacon Investment Advisory Services Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 39.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 792 shares of the electric vehicle producer’s stock after selling 510 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Tesla were worth $207,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TSLA. Valley Wealth Managers Inc. acquired a new position in Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC increased 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 worth $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla in the 3rd quarter worth about $29,000. Clean Yield Group increased its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in Tesla in the 3rd quarter worth about $35,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price target on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Canaccord Genuity Group upped their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price target on shares of Tesla in a research note on Wednesday, October 23rd. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $243.75.

Tesla Trading Up 3.5 %

Shares of TSLA opened at $357.09 on Tuesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93. 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 stock has a 50 day simple moving average of $274.55 and a 200-day simple moving average of $232.59. The stock has a market cap of $1.15 trillion, a PE ratio of 97.83, a PEG ratio of 11.21 and a beta of 2.36.

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

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 3.73 % decrease in their position. 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 stock in a transaction on 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. The trade was a 0.44 % decrease in their ownership of the stock. 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 three months. Corporate 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.