Goldstone Financial Group LLC Buys Shares of 6,597 Tesla, Inc. (NASDAQ:TSLA)

Goldstone Financial Group LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the third quarter, HoldingsChannel reports. The institutional investor acquired 6,597 shares of the electric vehicle producer’s stock, valued at approximately $1,726,000.

A number of other institutional investors have also recently modified their holdings of the stock. Bank & Trust Co bought a new position in shares of Tesla in the second quarter worth approximately $25,000. Clean Yield Group increased its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC raised its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in Tesla during the 2nd quarter valued at about $26,000. Finally, M&R Capital Management Inc. boosted its holdings in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA stock opened at $257.55 on Thursday. The stock has a 50 day moving average price of $232.78 and a 200 day moving average price of $209.50. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market capitalization of $826.75 billion, a P/E ratio of 70.56, a P/E/G ratio of 7.59 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, topping the consensus estimate of $0.58 by $0.14. The business 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% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,297 shares of company stock valued at $3,065,866 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Mizuho lifted their price objective on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Wells Fargo & Company boosted their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and increased their price objective for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $219.45.

Tesla Company 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.