Shira Ridge Wealth Management Buys Shares of 855 Tesla, Inc. (NASDAQ:TSLA)

Shira Ridge Wealth Management bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 855 shares of the electric vehicle producer’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% in 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 raised its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. Finally, M&R Capital Management Inc. raised 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 buying an additional 100 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA opened at $217.80 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. 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 6.48 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a fifty day moving average of $225.43 and a 200-day moving average of $203.79.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the topic of several research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $230.00 price target on shares of Tesla in a report on Friday. Wolfe Research initiated coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Truist Financial raised their price target on shares of Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research note on Monday, October 7th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $254.00 price objective on shares of Tesla in a research note on Friday, September 13th. 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’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $210.72.

Insider Activity at Tesla

In other Tesla news, 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Tesla news, 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

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.