Northwest Investment Counselors LLC Takes $365,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Northwest Investment Counselors LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the third quarter, Holdings Channel.com reports. The fund purchased 1,394 shares of the electric vehicle producer’s stock, valued at approximately $365,000.

A number of other institutional investors have also recently made changes to their positions in TSLA. 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 in the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its holdings in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares in the last quarter. Echo Wealth Management LLC lifted its holdings in 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 lifted its holdings in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC lifted its holdings in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent research reports. Wolfe Research initiated coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday. Finally, Royal Bank of Canada raised their price target on Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $210.72.

Insider Activity

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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were 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 of the company’s stock, valued at $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 in the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Trading Down 1.5 %

NASDAQ TSLA traded down $3.36 on Monday, hitting $217.34. The company’s stock had a trading volume of 37,697,109 shares, compared to its average volume of 94,087,492. Tesla, Inc. has a 52-week low of $138.80 and a 52-week 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 company’s 50-day simple moving average is $227.67 and its 200 day simple moving average is $205.65. The firm has a market cap of $694.32 billion, a P/E ratio of 61.22, a PEG ratio of 6.31 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). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter last year, the business posted $0.78 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

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.