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

BIP Wealth LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 198.1% in the third quarter, Holdings Channel.com reports. The fund owned 5,449 shares of the electric vehicle producer’s stock after buying an additional 3,621 shares during the quarter. BIP Wealth LLC’s holdings in Tesla were worth $1,426,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TSLA. Connable Office Inc. increased its stake in shares of Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after buying an additional 38 shares during the period. Holistic Financial Partners boosted its position in Tesla by 1.0% during the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after acquiring an additional 40 shares in the last quarter. Integris Wealth Management LLC increased its holdings in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc raised its position in shares of Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares in the last quarter. Finally, Echo Wealth Management LLC lifted its stake in shares of Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $338.74 on Tuesday. The business has a fifty day simple moving average of $254.75 and a 200 day simple moving average of $222.13. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64. The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 92.81, a P/E/G ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the firm earned $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on TSLA. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research note on Wednesday, July 24th. Guggenheim lifted their target price on Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. The Goldman Sachs Group lifted 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. Finally, Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $230.18.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,797 shares of company stock worth $57,616,781. Corporate insiders own 20.70% of the company’s stock.

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.