FRG Family Wealth Advisors LLC Has $1.67 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

FRG Family Wealth Advisors LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,388 shares of the electric vehicle producer’s stock after acquiring an additional 231 shares during the period. FRG Family Wealth Advisors LLC’s holdings in Tesla were worth $1,671,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. World Investment Advisors LLC boosted its position in shares of Tesla by 1,248.9% during the third quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock worth $52,124,000 after buying an additional 184,459 shares during the period. Vinva Investment Management Ltd grew its holdings in shares of Tesla by 59.2% in the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after acquiring an additional 43,685 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Tesla by 1.2% during the third quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after acquiring an additional 1,741 shares in the last quarter. MML Investors Services LLC grew its stake in shares of Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after buying an additional 9,919 shares in the last quarter. Finally, Tyler Stone Wealth Management raised its position in Tesla by 109.6% during the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock worth $2,466,000 after acquiring an additional 4,929 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

TSLA opened at $389.79 on Tuesday. The firm’s fifty day moving average price is $288.09 and its two-hundred day moving average price is $240.67. The company has a market capitalization of $1.25 trillion, a price-to-earnings ratio of 106.79, a P/E/G ratio of 12.64 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $404.80.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion during 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%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. As a group, analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 522,886 shares of company stock worth $171,393,831 over the last three months. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. KGI Securities upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research note on Thursday, October 24th. Wedbush restated an “outperform” rating and set a $400.00 price objective on shares of Tesla in a research report on Monday, November 18th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Canaccord Genuity Group lifted their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Truist Financial raised their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $248.12.

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.