Financial Management Professionals Inc. Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Financial Management Professionals Inc. lifted its position in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 243.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,203 shares of the electric vehicle producer’s stock after acquiring an additional 2,271 shares during the period. Financial Management Professionals Inc.’s holdings in Tesla were worth $850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in TSLA. Cranbrook Wealth Management LLC boosted its stake in shares of Tesla by 224.1% in the third quarter. Cranbrook Wealth Management LLC now owns 94 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 65 shares during the last quarter. TFO TDC LLC acquired a new position in Tesla during the second quarter worth $27,000. Horan Securities Inc. boosted its stake in Tesla by 164.3% during the second quarter. Horan Securities Inc. now owns 37 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 23 shares during the last quarter. Norway Savings Bank boosted its stake in Tesla by 200.0% during the third quarter. Norway Savings Bank now owns 105 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 70 shares during the last quarter. Finally, Triasima Portfolio Management inc. boosted its stake in Tesla by 582.4% during the third quarter. Triasima Portfolio Management inc. now owns 116 shares of the electric vehicle producer’s stock worth $31,000 after buying an additional 99 shares during the last quarter. 43.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Thursday, October 27th. The stock was sold at an average price of $229.95, for a total value of $2,414,475.00. Following the completion of the sale, the senior vice president now directly owns 62,988 shares of the company’s stock, valued at approximately $14,484,090.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Zachary Kirkhorn sold 3,751 shares of the company’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $222.50, for a total value of $834,597.50. Following the completion of the sale, the chief financial officer now directly owns 185,276 shares of the company’s stock, valued at approximately $41,223,910. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $229.95, for a total value of $2,414,475.00. Following the sale, the senior vice president now directly owns 62,988 shares of the company’s stock, valued at $14,484,090.60. The disclosure for this sale can be found here. Insiders sold a total of 24,172,833 shares of company stock valued at $4,492,567,309 in the last three months. 25.10% of the stock is currently owned by company insiders.

Tesla Trading Down 0.9 %

NASDAQ:TSLA opened at $122.40 on Friday. The stock has a 50-day simple moving average of $156.91 and a 200-day simple moving average of $225.42. The stock has a market cap of $386.51 billion, a P/E ratio of 37.82, a P/E/G ratio of 0.95 and a beta of 2.02. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $384.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.46.

Tesla (NASDAQ:TSLAGet Rating) last released its quarterly earnings data on Wednesday, October 19th. The electric vehicle producer reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08. The business had revenue of $21.45 billion during the quarter, compared to analysts’ expectations of $21.96 billion. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The business’s quarterly revenue was up 55.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. As a group, analysts anticipate that Tesla, Inc. will post 3.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent research reports. Robert W. Baird lowered their price objective on Tesla from $316.00 to $252.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 28th. Morgan Stanley lowered their price objective on Tesla from $330.00 to $250.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 28th. JPMorgan Chase & Co. decreased their price target on Tesla from $150.00 to $125.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 3rd. Truist Financial decreased their price target on Tesla from $348.00 to $299.00 and set a “buy” rating on the stock in a research note on Tuesday, January 3rd. Finally, Piper Sandler decreased their price target on Tesla from $360.00 to $340.00 and set an “overweight” rating on the stock in a research note on Thursday, September 29th. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $225.95.

About Tesla

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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.

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