Folger Nolan Fleming Douglas Capital Management Inc. Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 819 shares of the electric vehicle producer’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. lifted its holdings in Tesla by 0.6% in the second quarter. Riggs Asset Managment Co. Inc. now owns 1,761 shares of the electric vehicle producer’s stock valued at $1,186,000 after acquiring an additional 11 shares during the period. Advisor OS LLC lifted its holdings in Tesla by 2.4% in the second quarter. Advisor OS LLC now owns 510 shares of the electric vehicle producer’s stock valued at $344,000 after acquiring an additional 12 shares during the period. Alera Investment Advisors LLC lifted its holdings in Tesla by 1.4% in the second quarter. Alera Investment Advisors LLC now owns 852 shares of the electric vehicle producer’s stock valued at $574,000 after acquiring an additional 12 shares during the period. Stanley Laman Group Ltd. lifted its holdings in Tesla by 4.0% in the second quarter. Stanley Laman Group Ltd. now owns 314 shares of the electric vehicle producer’s stock valued at $211,000 after acquiring an additional 12 shares during the period. Finally, Trust Co. of Toledo NA OH lifted its holdings in Tesla by 1.2% in the second quarter. Trust Co. of Toledo NA OH now owns 1,004 shares of the electric vehicle producer’s stock valued at $676,000 after acquiring an additional 12 shares during the period. 43.00% of the stock is owned by institutional investors.

Tesla Stock Performance

NASDAQ TSLA opened at $127.17 on Friday. The stock has a market capitalization of $401.57 billion, a price-to-earnings ratio of 39.29, a PEG ratio of 0.95 and a beta of 2.02. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $384.29. The company has a current ratio of 1.46, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $151.97 and a 200 day moving average of $222.67.

Tesla (NASDAQ:TSLA – Get Rating) last posted its quarterly earnings data on Wednesday, October 19th. The electric vehicle producer reported $0.95 EPS for the quarter, topping the consensus estimate of $0.87 by $0.08. Tesla had a return on equity of 31.10% and a net margin of 14.95%. The company had revenue of $21.45 billion during the quarter, compared to analyst estimates of $21.96 billion. During the same period in the previous year, the business earned $0.48 EPS. Tesla’s quarterly revenue was up 55.9% on a year-over-year basis. Sell-side analysts anticipate that Tesla, Inc. will post 3.6 EPS for the current fiscal year.

Insider Activity

In related news, CFO Zachary Kirkhorn sold 3,751 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $222.50, for a total value of $834,597.50. Following the transaction, the chief financial officer now directly owns 185,276 shares in the company, valued at $41,223,910. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, CFO Zachary Kirkhorn sold 3,751 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $222.50, for a total transaction of $834,597.50. Following the transaction, the chief financial officer now directly owns 185,276 shares in the company, valued at $41,223,910. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Vaibhav Taneja sold 3,768 shares of the stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $178.07, for a total value of $670,967.76. Following the completion of the sale, the chief accounting officer now owns 95,785 shares in the company, valued at $17,056,434.95. The disclosure for this sale can be found here. Insiders sold 24,172,833 shares of company stock worth $4,492,567,309 over the last ninety days. Corporate insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TSLA. StockNews.com began coverage on Tesla in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on Tesla from $250.00 to $220.00 in a report on Thursday. Citigroup reduced their price target on Tesla from $176.00 to $140.00 and set a “neutral” rating for the company in a research report on Friday, January 13th. Jefferies Financial Group reduced their price target on Tesla from $350.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, TheStreet cut Tesla from a “b-” rating to a “c+” rating in a research report on Tuesday, November 1st. Six investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $218.29.

Tesla Profile

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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.