Clarity Wealth Advisors LLC Has $3.29 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Clarity Wealth Advisors LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,568 shares of the electric vehicle producer’s stock after buying an additional 540 shares during the period. Clarity Wealth Advisors LLC’s holdings in Tesla were worth $3,288,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Integris Wealth Management LLC lifted its holdings in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc boosted its holdings in Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares during the period. Echo Wealth Management LLC grew its position in shares of Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares in the last quarter. WASHINGTON TRUST Co raised its position in shares of Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after buying an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC boosted its stake in shares of Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after buying an additional 45 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TSLA shares. The Goldman Sachs Group reissued a “neutral” rating and set a $230.00 target price on shares of Tesla in a report on Friday, October 11th. Truist Financial upped their price target on shares of Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a report on Thursday, October 3rd. Barclays decreased their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Wells Fargo & Company restated an “underweight” rating and set a $120.00 target price on shares of Tesla in a research note on Monday, July 1st. Finally, Morgan Stanley restated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $210.72.

Tesla Stock Down 0.1 %

TSLA stock traded down $0.19 during trading on Friday, reaching $220.70. 49,611,867 shares of the stock were exchanged, compared to its average volume of 94,365,750. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The firm’s 50 day moving average is $227.67 and its 200 day moving average is $205.12. 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 market cap of $703.86 billion, a P/E ratio of 56.30, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share 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 previous year, the company posted $0.78 EPS. As a group, research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the 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 approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,661 shares of company stock worth $16,663,291. Insiders own 25.10% 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.