Wealth Dimensions Group Ltd. Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Wealth Dimensions Group Ltd. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 10.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,292 shares of the electric vehicle producer’s stock after purchasing an additional 395 shares during the quarter. Wealth Dimensions Group Ltd.’s holdings in Tesla were worth $1,123,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Tesla by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock worth $4,328,884,000 after buying an additional 301,968 shares during the period. Jennison Associates LLC increased its position in shares of Tesla by 11.9% during the third quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after acquiring an additional 1,294,093 shares during the period. International Assets Investment Management LLC increased its position in shares of Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares during the period. Swiss National Bank boosted its holdings in Tesla by 0.4% in the third quarter. Swiss National Bank now owns 8,519,675 shares of the electric vehicle producer’s stock valued at $2,229,003,000 after purchasing an additional 33,100 shares during the period. Finally, Strategic Financial Concepts LLC grew its stake in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TSLA shares. Guggenheim lifted their price objective on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Glj Research reissued a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research report on Thursday, October 17th. Barclays lifted their price objective on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $230.18.

Tesla Stock Up 3.8 %

Shares of NASDAQ:TSLA opened at $352.56 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.53. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm’s 50-day simple moving average is $264.07 and its 200-day simple moving average is $226.43. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 96.59, a PEG ratio of 11.03 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, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is owned by corporate insiders.

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.