Hantz Financial Services Inc. Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Hantz Financial Services Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.6% in the third quarter, Holdings Channel reports. The firm owned 8,208 shares of the electric vehicle producer’s stock after acquiring an additional 721 shares during the period. Hantz Financial Services Inc.’s holdings in Tesla were worth $2,147,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TSLA. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter worth approximately $29,000. Bank & Trust Co bought a new position in Tesla in the second quarter worth approximately $25,000. Clean Yield Group increased 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 purchasing an additional 48 shares during the period. Abich Financial Wealth Management LLC lifted its holdings in shares of 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 buying an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter worth $26,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 in the last three months. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. Glj Research restated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Thursday, October 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Canaccord Genuity Group upped their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada lifted their price target on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $231.06.

Tesla Price Performance

Shares of TSLA opened at $345.16 on Friday. The company has a market capitalization of $1.11 trillion, a P/E ratio of 94.56, a P/E/G ratio of 11.21 and a beta of 2.29. The business’s 50-day moving average is $274.55 and its two-hundred day moving average is $232.18. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.93.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the business earned $0.53 earnings per share. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.