Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Sterling Financial Group Inc.

Sterling Financial Group Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.1% in the third quarter, HoldingsChannel.com reports. The fund owned 2,538 shares of the electric vehicle producer’s stock after buying an additional 147 shares during the quarter. Sterling Financial Group Inc.’s holdings in Tesla were worth $664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Integris Wealth Management LLC lifted its stake in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its position in shares of 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 buying an additional 43 shares in the last quarter. Echo Wealth Management LLC lifted its stake in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares during the period. WASHINGTON TRUST Co increased its stake in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares during the period. Finally, Bellevue Asset Management LLC raised its holdings in Tesla by 1.6% during the second 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. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction 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 directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is owned by corporate insiders.

Tesla Stock Performance

NASDAQ:TSLA traded down $0.02 during trading hours on Wednesday, hitting $217.95. 6,126,188 shares of the company traded hands, compared to its average volume of 93,457,211. 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 $695.09 billion, a price-to-earnings ratio of 55.60, a P/E/G ratio of 6.31 and a beta of 2.29. The firm has a 50-day moving average of $228.30 and a 200 day moving average of $206.36. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.78 earnings per share. On average, analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Analyst Ratings Changes

TSLA has been the subject of a number of analyst reports. Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research note on Monday, July 1st. 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 price target on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Morgan Stanley reissued an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Finally, TD Cowen lifted their target price on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Nine research 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. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $211.63.

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.