Ironwood Investment Counsel LLC Buys 2,141 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ironwood Investment Counsel LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,435 shares of the electric vehicle producer’s stock after acquiring an additional 2,141 shares during the period. Ironwood Investment Counsel LLC’s holdings in Tesla were worth $2,468,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. raised its position in Tesla by 466.9% during the first quarter. Westwood Holdings Group Inc. now owns 15,799 shares of the electric vehicle producer’s stock valued at $2,777,000 after purchasing an additional 13,012 shares in the last quarter. Bright Futures Wealth Management LLC. acquired a new position in shares of Tesla during the 1st quarter worth $402,000. Transcend Capital Advisors LLC lifted its position in shares of Tesla by 3.9% during the 2nd quarter. Transcend Capital Advisors LLC now owns 14,638 shares of the electric vehicle producer’s stock worth $2,897,000 after buying an additional 546 shares during the last quarter. GAMMA Investing LLC boosted its stake in Tesla by 48.3% in the second quarter. GAMMA Investing LLC now owns 14,682 shares of the electric vehicle producer’s stock valued at $2,905,000 after buying an additional 4,781 shares in the last quarter. Finally, First Hawaiian Bank grew its position in Tesla by 2.0% in the second quarter. First Hawaiian Bank now owns 7,296 shares of the electric vehicle producer’s stock valued at $1,444,000 after acquiring an additional 144 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value 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. This represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Bank of America raised their price objective on Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Canaccord Genuity Group boosted their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Truist Financial raised their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Finally, Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $231.06.

Tesla Price Performance

NASDAQ TSLA opened at $345.16 on Friday. The company has a market cap of $1.11 trillion, a PE ratio of 94.56, a price-to-earnings-growth ratio of 10.81 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. The firm’s 50-day simple moving average is $274.55 and its two-hundred day simple moving average is $231.81. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.93.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s 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 EPS. Research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.