Avidian Wealth Enterprises LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Avidian Wealth Enterprises LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,512 shares of the electric vehicle producer’s stock after acquiring an additional 919 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Tesla were worth $2,227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its position in Tesla by 0.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after acquiring an additional 331 shares during the last quarter. Blue Square Asset Management LLC increased its position in shares of Tesla by 33.7% during the first quarter. Blue Square Asset Management LLC now owns 24,125 shares of the electric vehicle producer’s stock worth $4,241,000 after purchasing an additional 6,083 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Tesla by 0.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 572,742 shares of the electric vehicle producer’s stock valued at $100,682,000 after purchasing an additional 1,719 shares during the last quarter. Advisory Alpha LLC boosted its position in shares of Tesla by 15.8% in the 1st quarter. Advisory Alpha LLC now owns 11,727 shares of the electric vehicle producer’s stock valued at $2,062,000 after purchasing an additional 1,602 shares during the period. Finally, VitalStone Financial LLC grew its stake in Tesla by 35.8% during the 1st quarter. VitalStone Financial LLC now owns 2,946 shares of the electric vehicle producer’s stock worth $518,000 after buying an additional 776 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Tesla stock opened at $251.44 on Wednesday. The stock has a market capitalization of $807.14 billion, a P/E ratio of 68.89, a P/E/G ratio of 8.01 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm’s 50-day moving average is $235.57 and its two-hundred day moving average is $212.54.

Tesla (NASDAQ:TSLA) last announced 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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the business earned $0.53 earnings per share. Tesla’s revenue was up 7.8% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insider Activity

In other Tesla 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 value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla 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 in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock valued at $19,211,821 over the last quarter. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several research analyst reports. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. Bank of America upped their target price on shares of Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Jefferies Financial Group boosted their price target on Tesla from $165.00 to $195.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Barclays lifted their target price on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, HSBC reiterated a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $219.45.

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.