MBE Wealth Management LLC Makes New $246,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

MBE Wealth Management LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 940 shares of the electric vehicle producer’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Integris Wealth Management LLC grew its holdings in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc lifted its stake in Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares in the last quarter. Echo Wealth Management LLC lifted its stake in Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares in the last quarter. WASHINGTON TRUST Co lifted its stake in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after buying an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC lifted its stake in Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the 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 completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,661 shares of company stock valued at $16,663,291. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 0.9 %

Shares of TSLA stock traded down $1.95 during trading hours on Monday, hitting $218.75. 29,686,448 shares of the company were exchanged, compared to its average volume of 94,040,859. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The business’s 50-day simple moving average is $227.67 and its two-hundred day simple moving average is $205.65. The stock has a market capitalization of $698.83 billion, a price-to-earnings ratio of 61.22, a P/E/G ratio of 6.31 and a beta of 2.29.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the business posted $0.78 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TSLA. Roth Mkm reissued a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price target on shares of Tesla in a research note on Monday, October 7th. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and increased their price target for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Piper Sandler increased their price target on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. Finally, Morgan Stanley reissued an “overweight” rating and set a $310.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $210.72.

Check Out Our Latest Analysis 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.

See Also

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