M3 Advisory Group LLC Has $889,000 Holdings in Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

M3 Advisory Group LLC grew its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 5.6% during the third quarter, HoldingsChannel.com reports. The firm owned 3,398 shares of the electric vehicle producer’s stock after buying an additional 179 shares during the quarter. M3 Advisory Group LLC’s holdings in Tesla were worth $889,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bank & Trust Co bought a new position in shares of Tesla during the 2nd quarter worth approximately $25,000. Clean Yield Group boosted its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in Tesla in the 2nd quarter valued at $26,000. Finally, M&R Capital Management Inc. lifted its position in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was 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 approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,661 shares of company stock worth $16,663,291. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 0.3 %

Shares of NASDAQ:TSLA traded down $0.74 during trading on Friday, reaching $220.15. 15,498,794 shares of the stock were exchanged, compared to its average volume of 94,197,781. The stock has a fifty day moving average of $227.25 and a two-hundred day moving average of $204.80. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The firm has a market cap of $703.30 billion, a price-to-earnings ratio of 62.05, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29.

Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.78 earnings per share. Research analysts anticipate that Tesla, Inc. will post 1.75 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. Piper Sandler lifted their target price on Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Monday, October 7th. Truist Financial increased their price objective on Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. Stifel Nicolaus initiated coverage on Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective on the stock. Finally, Argus reiterated a “buy” rating and set a $286.00 target price on shares of Tesla in a research note on Friday, July 26th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $210.72.

Check Out Our Latest Stock Report on TSLA

Tesla Profile

(Free Report)

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.

Further Reading

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