Silverlake Wealth Management LLC Buys 76 Shares of Tesla, Inc. (NASDAQ:TSLA)

Silverlake Wealth Management LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,034 shares of the electric vehicle producer’s stock after buying an additional 76 shares during the quarter. Silverlake Wealth Management LLC’s holdings in Tesla were worth $794,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC raised its position in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. ARK Investment Management LLC boosted its stake in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after acquiring an additional 135,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after purchasing an additional 412,872 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA stock traded down $20.97 during mid-day trading on Friday, reaching $217.80. 142,628,874 shares of the company’s stock were exchanged, compared to its average volume of 95,239,352. The company has a market cap of $695.79 billion, a price-to-earnings ratio of 61.18, a price-to-earnings-growth ratio of 6.54 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The stock’s 50 day moving average is $225.43 and its 200 day moving average is $203.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during 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 company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, research analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on TSLA. Royal Bank of Canada boosted their price objective on Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research report on Tuesday. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday. Wells Fargo & Company restated an “underweight” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Truist Financial increased their price target on Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a research report on Thursday, October 3rd. Finally, Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $210.72.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,661 shares of company stock worth $16,663,291. Corporate insiders own 20.70% of the company’s stock.

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.