Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 12,340 shares of the electric vehicle producer’s stock after acquiring an additional 476 shares during the period. First Horizon Advisors Inc.’s holdings in Tesla were worth $3,229,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its position 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 during the last quarter. Tyler Stone Wealth Management raised its stake 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 purchasing an additional 4,929 shares during the period. Savvy Advisors Inc. grew its stake in shares of Tesla by 24.2% during the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after buying an additional 1,467 shares during the period. ICICI Prudential Asset Management Co Ltd raised its position in shares of Tesla by 19.0% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock worth $6,394,000 after buying an additional 3,909 shares during the period. Finally, West Family Investments Inc. grew its position in Tesla by 20.8% during the third quarter. West Family Investments Inc. now owns 9,026 shares of the electric vehicle producer’s stock valued at $2,361,000 after acquiring an additional 1,556 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 301,187 shares of company stock valued at $92,956,692. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Wells Fargo & Company increased their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada increased their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Nine 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Trading Down 1.1 %

Shares of NASDAQ:TSLA opened at $342.03 on Thursday. 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 company has a market cap of $1.10 trillion, a P/E ratio of 93.71, a P/E/G ratio of 11.24 and a beta of 2.29. The stock’s 50-day moving average is $259.42 and its 200-day moving average is $224.12. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate 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 for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. Equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.