Wolff Wiese Magana LLC Buys 1,175 Shares of Tesla, Inc. (NASDAQ:TSLA)

Wolff Wiese Magana LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 59.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,135 shares of the electric vehicle producer’s stock after acquiring an additional 1,175 shares during the quarter. Wolff Wiese Magana LLC’s holdings in Tesla were worth $820,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank & Trust Co acquired a new position in Tesla in the second quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Tesla by 168.8% in the 2nd 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 in the last quarter. Clean Yield Group grew its position in Tesla by 60.0% during the 3rd 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 last quarter. Finally, M&R Capital Management Inc. increased its holdings in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 0.8 %

Shares of NASDAQ:TSLA opened at $221.33 on Thursday. The firm has a market cap of $707.07 billion, a price-to-earnings ratio of 62.17, a PEG ratio of 5.94 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 company’s fifty day simple moving average is $226.81 and its 200 day simple moving average is $204.69. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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 net margin of 13.00% and a return on equity of 10.41%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 EPS. As a group, research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research analyst reports. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Truist Financial increased their price objective on shares of Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a report on Thursday, October 3rd. Wolfe Research began coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Barclays lowered their price target on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $254.00 price objective on shares of Tesla in a report on Friday, September 13th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $210.72.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. 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 available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade 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 worth $16,663,291. Corporate insiders own 20.70% of the company’s stock.

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.