Ballast Advisors LLC Has $1.52 Million Position in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Ballast Advisors LLC decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,798 shares of the electric vehicle producer’s stock after selling 90 shares during the period. Ballast Advisors LLC’s holdings in Tesla were worth $1,517,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank & Trust Co acquired a new stake in shares of Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC increased its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Clean Yield Group lifted its holdings in Tesla by 60.0% in the 3rd 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. Finally, M&R Capital Management Inc. boosted its position in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 14.3 %

Shares of NASDAQ:TSLA opened at $287.41 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $922.60 billion, a P/E ratio of 68.89, a P/E/G ratio of 8.01 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $289.31. The company’s 50-day moving average price is $235.57 and its two-hundred day moving average price is $212.54.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the business posted $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, research analysts forecast that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their target price on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Guggenheim boosted their price objective on Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Tesla in a report on Thursday, October 24th. Stifel Nicolaus upped their price target on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $219.45.

View Our Latest Stock Analysis on Tesla

Insider Activity

In other news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,797 shares of company stock valued at $19,211,821. Company insiders own 20.70% of the company’s stock.

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.

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