Sitrin Capital Management LLC Purchases 450 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sitrin Capital Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 16.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,124 shares of the electric vehicle producer’s stock after buying an additional 450 shares during the quarter. Sitrin Capital Management LLC’s holdings in Tesla were worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in Tesla during the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the last quarter. Clean Yield Group lifted its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Finally, M&R Capital Management Inc. boosted its holdings in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,297 shares of company stock worth $3,065,866. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA stock traded up $1.58 during trading on Friday, hitting $251.43. The company’s stock had a trading volume of 18,358,553 shares, compared to its average volume of 93,994,094. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market cap of $807.11 billion, a PE ratio of 69.00, a P/E/G ratio of 8.49 and a beta of 2.29. The business has a fifty day moving average of $233.56 and a 200-day moving average of $209.78. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on TSLA. William Blair initiated coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Phillip Securities raised Tesla to a “moderate sell” rating in a research note on Friday, October 25th. Barclays raised their target price on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Eight research 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. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $219.45.

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.