Morling Financial Advisors LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Morling Financial Advisors LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLAGet Rating) by 1,467.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,113 shares of the electric vehicle producer’s stock after purchasing an additional 1,042 shares during the period. Morling Financial Advisors LLC’s holdings in Tesla were worth $295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Riggs Asset Managment Co. Inc. increased its position in shares of 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 worth $1,186,000 after acquiring an additional 11 shares in the last quarter. Advisor OS LLC grew its holdings in Tesla by 2.4% during the 2nd 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 in the last quarter. Alera Investment Advisors LLC grew its holdings in Tesla by 1.4% during the 2nd 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 in the last quarter. Stanley Laman Group Ltd. grew its holdings in Tesla by 4.0% during the 2nd 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 in the last quarter. Finally, Trust Co. of Toledo NA OH grew its holdings in Tesla by 1.2% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 43.00% of the company’s stock.

Insider Activity at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the completion of the transaction, the senior vice president now directly owns 62,988 shares in the company, valued at approximately $14,484,090.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Zachary Kirkhorn sold 3,752 shares of the stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $109.31, for a total value of $410,131.12. Following the completion of the transaction, the chief financial officer now owns 200,411 shares in the company, valued at approximately $21,906,926.41. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $229.95, for a total transaction of $2,414,475.00. Following the completion of the transaction, the senior vice president now owns 62,988 shares of the company’s stock, valued at approximately $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 worth $4,492,567,309 in the last ninety days. 25.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TSLA shares. Piper Sandler lowered their price target on shares of Tesla from $340.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday. Mizuho decreased their price objective on shares of Tesla from $285.00 to $250.00 and set a “buy” rating for the company in a report on Thursday, January 5th. Daiwa Capital Markets decreased their price objective on shares of Tesla from $240.00 to $177.00 and set an “outperform” rating for the company in a report on Tuesday, December 20th. Wolfe Research decreased their price objective on shares of Tesla from $360.00 to $288.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. Finally, Wells Fargo & Company decreased their price objective on shares of Tesla from $230.00 to $130.00 and set an “equal weight” rating for the company in a report on Friday, January 13th. 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $218.29.

Tesla Price Performance

NASDAQ TSLA opened at $133.42 on Friday. 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 company has a fifty day simple moving average of $150.72 and a 200 day simple moving average of $221.94. The company has a market cap of $421.31 billion, a P/E ratio of 41.22, a P/E/G ratio of 1.06 and a beta of 2.02. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $384.29.

Tesla (NASDAQ:TSLAGet Rating) last released its earnings results on Wednesday, October 19th. The electric vehicle producer reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. The firm 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%. 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 company earned $0.48 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 3.57 EPS for the current year.

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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