High Falls Advisors Inc Has $571,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

High Falls Advisors Inc boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,184 shares of the electric vehicle producer’s stock after acquiring an additional 129 shares during the quarter. High Falls Advisors Inc’s holdings in Tesla were worth $571,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the third quarter worth about $29,000. Clean Yield Group raised its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the period. Abich Financial Wealth Management LLC boosted its holdings in shares of Tesla by 168.8% in the second 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 during the period. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the second quarter worth $26,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Tesla during the third quarter worth $35,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 522,886 shares of company stock valued at $171,393,831. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSLA. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Wedbush reiterated an “outperform” rating and set a $400.00 price objective on shares of Tesla in a report on Monday, November 18th. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a research note on Thursday, October 17th. Finally, Wells Fargo & Company boosted their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $248.12.

Tesla Stock Up 0.1 %

Shares of TSLA opened at $389.79 on Tuesday. The stock has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 106.79, a PEG ratio of 12.64 and a beta of 2.36. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $404.80. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a fifty day moving average of $288.09 and a 200-day moving average of $240.67.

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, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the business posted $0.53 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.