Rehmann Capital Advisory Group Has $4.44 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Rehmann Capital Advisory Group grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.8% during the third quarter, Holdings Channel.com reports. The firm owned 16,951 shares of the electric vehicle producer’s stock after buying an additional 1,086 shares during the period. Rehmann Capital Advisory Group’s holdings in Tesla were worth $4,435,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new stake in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased its stake 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 worth $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the third quarter worth $29,000. Clean Yield Group boosted its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in Tesla in the third quarter valued at about $35,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSLA has been the subject of several research reports. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Roth Mkm upgraded shares of Tesla from a “neutral” rating to a “buy” rating and raised their price target for the company from $85.00 to $380.00 in a report on Monday, December 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Finally, StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $257.36.

Tesla Stock Up 2.9 %

NASDAQ:TSLA opened at $400.99 on Wednesday. The stock has a market cap of $1.29 trillion, a price-to-earnings ratio of 109.86, a PEG ratio of 12.64 and a beta of 2.36. 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 stock has a 50-day moving average price of $288.09 and a two-hundred day moving average price of $240.67. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $409.73.

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

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 522,886 shares of company stock valued at $171,393,831. 20.70% of the stock is owned by insiders.

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.