Aaron Wealth Advisors LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Aaron Wealth Advisors LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 44.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,730 shares of the electric vehicle producer’s stock after buying an additional 3,321 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Tesla were worth $2,807,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Joule Financial LLC grew its holdings in shares of Tesla by 8.7% during the third quarter. Joule Financial LLC now owns 7,727 shares of the electric vehicle producer’s stock worth $2,022,000 after buying an additional 620 shares in the last quarter. Stonegate Investment Group LLC grew its holdings in shares of Tesla by 14.7% during the third quarter. Stonegate Investment Group LLC now owns 2,454 shares of the electric vehicle producer’s stock worth $642,000 after buying an additional 314 shares in the last quarter. M3 Advisory Group LLC grew its holdings in shares of Tesla by 5.6% during the third quarter. M3 Advisory Group LLC now owns 3,398 shares of the electric vehicle producer’s stock worth $889,000 after buying an additional 179 shares in the last quarter. Sloy Dahl & Holst LLC grew its holdings in shares of Tesla by 0.6% during the third quarter. Sloy Dahl & Holst LLC now owns 1,256,481 shares of the electric vehicle producer’s stock worth $328,733,000 after buying an additional 7,492 shares in the last quarter. Finally, Claro Advisors LLC grew its holdings in shares of Tesla by 12.5% during the third quarter. Claro Advisors LLC now owns 12,576 shares of the electric vehicle producer’s stock worth $3,290,000 after buying an additional 1,393 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 0.3 %

NASDAQ TSLA traded down $0.65 during trading hours on Friday, reaching $220.24. 17,091,541 shares of the company traded hands, compared to its average volume of 94,205,664. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. 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 stock has a market capitalization of $702.39 billion, a PE ratio of 56.18, a PEG ratio of 5.94 and a beta of 2.29. The company has a 50 day moving average of $227.25 and a two-hundred day moving average of $204.80.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS 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 for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the company earned $0.78 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on 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 sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TSLA. Morgan Stanley restated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. TD Cowen boosted their target price on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $254.00 target price on shares of Tesla in a report on Friday, September 13th. Citigroup lowered their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Stifel Nicolaus initiated coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price for the company. Nine 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. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $210.72.

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.