Folger Nolan Fleming Douglas Capital Management Inc. Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,042 shares of the electric vehicle producer’s stock after acquiring an additional 142 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Tesla were worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Bank & Trust Co bought a new position in Tesla during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC grew its holdings 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 period. Clean Yield Group increased its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. lifted 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 acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TSLA shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Barclays increased their price target on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research note on Friday, July 5th. Roth Mkm reiterated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Friday, October 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Tesla in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $219.45.

Tesla Stock Down 0.8 %

Shares of TSLA stock opened at $257.55 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $232.78 and a 200 day moving average of $209.50. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $273.54. The stock has a market cap of $826.75 billion, a P/E ratio of 70.56, a P/E/G ratio of 7.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the 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 completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,297 shares of company stock valued at $3,065,866. 20.70% of the stock is owned by insiders.

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.