Visionary Horizons LLC Makes New $254,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Visionary Horizons LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, Holdings Channel reports. The institutional investor bought 972 shares of the electric vehicle producer’s stock, valued at approximately $254,000.

Other hedge funds have also made changes to their positions in the company. Bank & Trust Co purchased a new position in Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC boosted 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 valued at $26,000 after acquiring an additional 81 shares in the last quarter. Clean Yield Group increased its stake in shares of Tesla by 60.0% during the third 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 period. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $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.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Guggenheim raised their target price on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a report on Thursday, October 24th. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research report on Friday, July 5th. William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $219.45.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $248.98 on Friday. The business has a fifty day simple moving average of $234.14 and a 200-day simple moving average of $210.39. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.54. The company has a market cap of $799.24 billion, a P/E ratio of 68.21, a P/E/G ratio of 8.24 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the company posted $0.53 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 1.96 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,297 shares of company stock valued at $3,065,866 over the last quarter. Company 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.