Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Allen Capital Group LLC

Allen Capital Group LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.9% in the third quarter, Holdings Channel reports. The firm owned 4,130 shares of the electric vehicle producer’s stock after buying an additional 1,000 shares during the period. Allen Capital Group LLC’s holdings in Tesla were worth $1,081,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TSLA. Bank & Trust Co purchased a new stake in shares of Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC grew its stake in Tesla by 168.8% during the 2nd 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. Transcendent Capital Group LLC purchased a new stake in Tesla during the 3rd quarter valued at about $29,000. Finally, Clean Yield Group grew its stake in Tesla by 60.0% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $36,761,200. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock valued at $92,956,692 in the last ninety days. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research note on Monday. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research note on Friday, October 11th. Stifel Nicolaus increased their price target on shares of Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays increased their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Truist Financial increased their price target on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Trading Down 0.5 %

Shares of NASDAQ:TSLA opened at $340.17 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The company’s 50 day moving average is $261.63 and its two-hundred day moving average is $224.93. 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 company has a market cap of $1.09 trillion, a PE ratio of 93.20, a P/E/G ratio of 11.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results 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. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. Equities analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.