Sweeney & Michel LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Sweeney & Michel LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 32.3% in the 3rd quarter, Holdings Channel reports. The firm owned 2,118 shares of the electric vehicle producer’s stock after purchasing an additional 517 shares during the period. Sweeney & Michel LLC’s holdings in Tesla were worth $554,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Bank & Trust Co bought a new stake in Tesla during the 2nd quarter valued at about $25,000. Clean Yield Group raised its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC grew its position in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the second quarter worth about $26,000. Finally, M&R Capital Management Inc. lifted its position in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 0.00 % 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, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,661 shares of company stock valued at $16,663,291. Corporate insiders own 25.10% of the company’s stock.

Tesla Trading Down 0.8 %

Shares of TSLA stock traded down $1.71 during mid-day trading on Tuesday, reaching $217.14. The company’s stock had a trading volume of 7,987,893 shares, compared to its average volume of 93,712,359. The firm has a market capitalization of $692.50 billion, a PE ratio of 55.52, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. The company’s 50 day simple moving average is $228.09 and its 200-day simple moving average is $205.99. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, research analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TSLA. Jefferies Financial Group upped their target price on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Thursday, October 17th. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a research report on Wednesday, July 24th. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research report on Friday, July 5th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research report on Monday, October 7th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and an average target price of $211.63.

Tesla Company 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.