BIP Wealth LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 198.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,449 shares of the electric vehicle producer's stock after acquiring an additional 3,621 shares during the period. BIP Wealth LLC's holdings in Tesla were worth $1,426,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the third quarter worth $29,000. Bank & Trust Co bought a new stake in Tesla in the 2nd quarter worth about $25,000. Clean Yield Group grew its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after purchasing an additional 48 shares in the last quarter. 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. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the 2nd quarter valued at approximately $26,000. Institutional investors and hedge funds own 66.20% of the company's stock.
In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company's stock, valued at approximately $1,868,508. This represents a 94.88 % 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, SVP Xiaotong Zhu sold 297 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now owns 67,491 shares of the company's stock, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock valued at $57,616,781 in the last three months. 20.70% of the stock is currently owned by corporate insiders.
Shares of TSLA stock opened at $338.74 on Tuesday. The firm has a market capitalization of $1.09 trillion, a PE ratio of 92.81, a P/E/G ratio of 10.42 and a beta of 2.29. 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 company has a 50 day moving average price of $254.75 and a 200-day moving average price of $222.13. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64.
Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The business's quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.
TSLA has been the topic of a number of recent research reports. Morgan Stanley restated an "overweight" rating and set a $310.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Wolfe Research started coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a "peer perform" rating on the stock. Glj Research reiterated a "sell" rating and issued a $24.86 target price on shares of Tesla in a research note on Thursday, October 17th. KGI Securities upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group raised their price objective on Tesla from $254.00 to $278.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $230.18.
Read Our Latest Analysis on TSLA
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.
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