Waterway Wealth Management LLC Makes New $295,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Waterway Wealth Management LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 1,129 shares of the electric vehicle producer’s stock, valued at approximately $295,000.

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

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on 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 owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction 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 transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,661 shares of company stock worth $16,663,291. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Stifel Nicolaus initiated coverage on shares of Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target on the stock. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Royal Bank of Canada raised their price target on shares of Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Finally, Truist Financial lifted their target price on shares of Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a report on Thursday, October 3rd. Nine equities 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 MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $211.63.

Tesla Trading Down 0.8 %

Shares of NASDAQ TSLA opened at $218.85 on Tuesday. 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 $699.15 billion, a PE ratio of 61.47, a P/E/G ratio of 6.31 and a beta of 2.29. 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 company has a 50-day moving average of $228.09 and a two-hundred day moving average of $205.99.

Tesla (NASDAQ:TSLA) last posted its quarterly 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 business had revenue of $25.50 billion for the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.78 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.