True Vision MN LLC Buys Shares of 1,997 Tesla, Inc. (NASDAQ:TSLA)

True Vision MN LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,997 shares of the electric vehicle producer’s stock, valued at approximately $522,000.

A number of other large investors have also recently made changes to their positions in the stock. Bank & Trust Co purchased a new position in Tesla during the second quarter valued at $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC boosted its holdings in 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. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter worth about $29,000. Finally, Clean Yield Group increased its position in shares of Tesla by 60.0% during 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. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 price target on shares of Tesla in a research report on Tuesday, September 10th. Wolfe Research began coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. The Goldman Sachs Group upped their target price on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $231.06.

Tesla Price Performance

TSLA traded up $1.39 during trading on Wednesday, reaching $339.62. 6,316,628 shares of the stock were exchanged, compared to its average volume of 95,265,695. 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 company has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 92.67, a P/E/G ratio of 11.00 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93. The business’s 50 day moving average price is $268.52 and its two-hundred day moving average price is $229.16.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating 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 business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the previous year, the company posted $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling

In related 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 completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on 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 transaction, the director now owns 85,000 shares in the company, valued at $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. Over the last 90 days, insiders have sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is currently owned by corporate insiders.

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.