Leisure Capital Management Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Leisure Capital Management increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Get Rating) by 201.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,224 shares of the electric vehicle producer’s stock after purchasing an additional 2,824 shares during the period. Leisure Capital Management’s holdings in Tesla were worth $1,120,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TSLA. Riggs Asset Managment Co. Inc. raised its stake in Tesla by 0.6% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,761 shares of the electric vehicle producer’s stock worth $1,186,000 after acquiring an additional 11 shares during the period. Advisor OS LLC increased its stake in shares of 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 purchasing an additional 12 shares during the period. Alera Investment Advisors LLC increased its stake in shares of 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 purchasing an additional 12 shares during the period. Stanley Laman Group Ltd. increased its stake in shares of 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 purchasing an additional 12 shares during the period. Finally, Trust Co. of Toledo NA OH increased its stake in shares of 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 purchasing an additional 12 shares during the period. 43.00% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 4.9 %

Shares of NASDAQ:TSLA opened at $133.42 on Friday. Tesla, Inc. has a one year low of $101.81 and a one year high of $384.29. The company has a 50 day moving average of $150.72 and a 200-day moving average of $221.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.46 and a quick ratio of 1.04. The stock has a market cap of $421.31 billion, a price-to-earnings ratio of 41.22, a P/E/G ratio of 1.06 and a beta of 2.02.

Tesla (NASDAQ:TSLA – Get Rating) last issued its quarterly earnings results 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. The company had revenue of $21.45 billion during the quarter, compared to analysts’ expectations of $21.96 billion. Tesla had a net margin of 14.95% and a return on equity of 31.10%. Tesla’s revenue was up 55.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.48 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 3.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of Tesla from $340.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday. Oppenheimer cut shares of Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, December 19th. Canaccord Genuity Group reduced their target price on shares of Tesla from $304.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, December 22nd. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $150.00 to $125.00 and set an “underweight” rating for the company in a report on Tuesday, January 3rd. Finally, Wedbush reduced their price target on shares of Tesla from $250.00 to $175.00 and set an “outperform” rating for the company in a research report on Friday, December 23rd. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $218.29.

Insider Activity at Tesla

In related news, CAO Vaibhav Taneja sold 3,768 shares of the business’s stock in a transaction that occurred on Tuesday, December 6th. The shares were sold at an average price of $178.07, for a total transaction of $670,967.76. Following the completion of the transaction, the chief accounting officer now owns 95,785 shares in the company, valued at $17,056,434.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Vaibhav Taneja sold 3,768 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 95,785 shares in the company, valued at $17,056,434.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zachary Kirkhorn sold 3,752 shares of the company’s stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total transaction of $410,131.12. Following the completion of the transaction, the chief financial officer now owns 200,411 shares of the company’s stock, valued at approximately $21,906,926.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,172,833 shares of company stock worth $4,492,567,309. 25.10% of the stock is currently owned by company insiders.

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.