Financial Management Professionals Inc. Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Financial Management Professionals Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 243.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,203 shares of the electric vehicle producer’s stock after acquiring an additional 2,271 shares during the period. Financial Management Professionals Inc.’s holdings in Tesla were worth $850,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TSLA. Naviter Wealth LLC grew its holdings in shares of Tesla by 109.1% in the 3rd quarter. Naviter Wealth LLC now owns 9,832 shares of the electric vehicle producer’s stock worth $2,608,000 after acquiring an additional 5,130 shares during the period. AJ Wealth Strategies LLC increased its position in shares of Tesla by 247.2% in the third quarter. AJ Wealth Strategies LLC now owns 3,295 shares of the electric vehicle producer’s stock valued at $874,000 after buying an additional 2,346 shares in the last quarter. Index Fund Advisors Inc. raised its stake in shares of Tesla by 200.7% during the 3rd quarter. Index Fund Advisors Inc. now owns 1,819 shares of the electric vehicle producer’s stock worth $482,000 after buying an additional 1,214 shares during the last quarter. Slow Capital Inc. boosted its position in shares of Tesla by 213.6% in the 3rd quarter. Slow Capital Inc. now owns 66,140 shares of the electric vehicle producer’s stock worth $17,544,000 after buying an additional 45,047 shares in the last quarter. Finally, Cottage Street Advisors LLC grew its stake in Tesla by 496.8% in the 3rd quarter. Cottage Street Advisors LLC now owns 6,547 shares of the electric vehicle producer’s stock valued at $1,737,000 after acquiring an additional 5,450 shares during the last quarter. Hedge funds and other institutional investors own 43.00% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Vaibhav Taneja sold 3,768 shares of the business’s stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total value of $670,967.76. Following the transaction, the chief accounting officer now owns 95,785 shares in the company, valued at $17,056,434.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Vaibhav Taneja sold 3,768 shares of the business’s stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $178.07, for a total value of $670,967.76. Following the transaction, the chief accounting officer now owns 95,785 shares in the company, valued at $17,056,434.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Zachary Kirkhorn sold 3,752 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $109.31, for a total value of $410,131.12. Following the completion of the transaction, the chief financial officer now owns 200,411 shares in the company, valued at approximately $21,906,926.41. The disclosure for this sale can be found here. Insiders have sold a total of 24,172,833 shares of company stock worth $4,492,567,309 over the last quarter. 25.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of Tesla from $304.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, December 22nd. The Goldman Sachs Group lowered their target price on Tesla from $235.00 to $205.00 and set a “buy” rating on the stock in a report on Monday, January 2nd. Wolfe Research reduced their price objective on Tesla from $360.00 to $288.00 and set an “outperform” rating on the stock in a research report on Thursday, October 20th. Oppenheimer cut Tesla from an “outperform” rating to a “market perform” rating in a research report on Monday, December 19th. Finally, Guggenheim cut shares of Tesla from a “neutral” rating to a “sell” rating in a research note on Friday. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $225.95.

Tesla Trading Down 0.9 %

Shares of TSLA opened at $122.40 on Friday. The stock’s 50-day moving average is $156.91 and its two-hundred day moving average is $225.42. The stock has a market cap of $386.51 billion, a PE ratio of 37.82, a P/E/G ratio of 0.95 and a beta of 2.02. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $384.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.46 and a quick ratio of 1.04.

Tesla (NASDAQ:TSLAGet Rating) last issued its quarterly earnings data on Wednesday, October 19th. The electric vehicle producer reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08. The company had revenue of $21.45 billion for the quarter, compared to analysts’ expectations of $21.96 billion. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The firm’s quarterly revenue was up 55.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Equities analysts forecast that Tesla, Inc. will post 3.6 earnings per share for the current fiscal year.

Tesla Company Profile

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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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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