Elite Wealth Management Inc. Purchases 178 Shares of Tesla, Inc. (NASDAQ:TSLA)

Elite Wealth Management Inc. increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,809 shares of the electric vehicle producer’s stock after purchasing an additional 178 shares during the quarter. Tesla makes up approximately 0.1% of Elite Wealth Management Inc.’s holdings, making the stock its 24th largest holding. Elite Wealth Management Inc.’s holdings in Tesla were worth $997,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TSLA. Oppenheimer & Co. Inc. lifted its position in shares of Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after purchasing an additional 1,741 shares during the period. Tyler Stone Wealth Management lifted its holdings in Tesla by 109.6% in the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after buying an additional 4,929 shares during the period. Savvy Advisors Inc. lifted its holdings in Tesla by 24.2% in the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after buying an additional 1,467 shares during the period. Blackhawk Capital Partners LLC. boosted its position in Tesla by 102.0% during the 3rd quarter. Blackhawk Capital Partners LLC. now owns 5,598 shares of the electric vehicle producer’s stock valued at $1,465,000 after acquiring an additional 2,827 shares in the last quarter. Finally, West Family Investments Inc. grew its holdings in shares of Tesla by 20.8% during the 3rd quarter. West Family Investments Inc. now owns 9,026 shares of the electric vehicle producer’s stock worth $2,361,000 after acquiring an additional 1,556 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 1.6 %

TSLA opened at $332.89 on Thursday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.93. The firm’s 50 day simple moving average is $270.63 and its two-hundred day simple moving average is $229.89. 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 capitalization of $1.07 trillion, a PE ratio of 91.20, a PEG ratio of 11.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on 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 in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of 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 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on TSLA. Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. William Blair assumed coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Guggenheim boosted their price objective on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research note on Thursday, October 24th. UBS Group raised their target price on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research note on Monday. Finally, KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target on the stock in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $231.06.

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.