Farther Finance Advisors LLC Has $8.25 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Farther Finance Advisors LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 19.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,542 shares of the electric vehicle producer’s stock after acquiring an additional 5,089 shares during the period. Farther Finance Advisors LLC’s holdings in Tesla were worth $8,252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TSLA. China Universal Asset Management Co. Ltd. boosted its stake in Tesla by 0.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after acquiring an additional 331 shares in the last quarter. Palisade Asset Management LLC bought a new position in shares of Tesla during the 1st quarter worth about $128,000. Moloney Securities Asset Management LLC grew its stake in shares of Tesla by 505.0% in the 1st quarter. Moloney Securities Asset Management LLC now owns 5,887 shares of the electric vehicle producer’s stock valued at $1,035,000 after buying an additional 4,914 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in Tesla by 9.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 71,857 shares of the electric vehicle producer’s stock valued at $12,632,000 after buying an additional 6,393 shares in the last quarter. Finally, CNB Bank raised its stake in Tesla by 3.9% during the 1st quarter. CNB Bank now owns 7,212 shares of the electric vehicle producer’s stock worth $1,268,000 after buying an additional 270 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 0.3 %

Shares of TSLA opened at $248.98 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $273.54. The stock has a market cap of $799.24 billion, a PE ratio of 68.21, a P/E/G ratio of 8.24 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 business’s 50-day moving average price is $234.14 and its 200-day moving average price is $210.39.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, equities analysts forecast that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. Citigroup lowered their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. The Goldman Sachs Group raised their price objective on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Royal Bank of Canada upped their target price on shares of Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Jefferies Financial Group raised their target price on Tesla from $165.00 to $195.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $219.45.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,297 shares of company stock worth $3,065,866. Corporate insiders own 20.70% of the company’s stock.

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.