Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by M3 Advisory Group LLC

M3 Advisory Group LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,398 shares of the electric vehicle producer’s stock after purchasing an additional 179 shares during the quarter. M3 Advisory Group LLC’s holdings in Tesla were worth $889,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Tesla by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after purchasing an additional 206,248 shares during the period. Morse Asset Management Inc boosted its position in shares of Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after buying an additional 3,462 shares during the period. NewEdge Advisors LLC grew its stake in shares of Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after buying an additional 27,130 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Tesla during the 1st quarter valued at about $1,941,000. Finally, Future Financial Wealth Managment LLC acquired a new position in Tesla during the 1st quarter worth approximately $79,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TSLA. Robert W. Baird reissued an “outperform” rating and set a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 price target on shares of Tesla in a report on Monday, October 7th. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Piper Sandler boosted their target price on shares of Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 price target on shares of Tesla in a research report on Tuesday, September 10th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $210.72.

Tesla Stock Performance

Tesla stock traded down $0.74 on Friday, reaching $220.15. 15,498,794 shares of the stock were exchanged, compared to its average volume of 94,197,781. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average price of $227.25 and a two-hundred day moving average price of $204.80. The stock has a market cap of $703.30 billion, a PE ratio of 62.05, a PEG ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00.

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

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on 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 sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 over the last quarter. Company insiders own 20.70% of the company’s stock.

Tesla 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.