Burr Financial Services LLC Invests $9.89 Million in Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

Burr Financial Services LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 37,809 shares of the electric vehicle producer’s stock, valued at approximately $9,892,000. Tesla makes up about 7.0% of Burr Financial Services LLC’s investment portfolio, making the stock its 2nd largest position.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Bank & Trust Co bought a new stake in shares of Tesla during the 2nd quarter worth $25,000. Clean Yield Group boosted its stake in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC grew its position 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 period. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the 2nd quarter worth approximately $26,000. Finally, M&R Capital Management Inc. raised its holdings in shares of Tesla by 263.2% in the 3rd 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. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’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 completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,297 shares of company stock worth $3,065,866 in the last ninety days. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TSLA shares. William Blair started coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. TD Cowen boosted their price target on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada lifted their price objective on shares of Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $219.45.

Check Out Our Latest Stock Analysis on TSLA

Tesla Price Performance

TSLA stock opened at $257.55 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm’s 50-day moving average price is $232.78 and its two-hundred day moving average price is $209.50. The stock has a market capitalization of $826.75 billion, a price-to-earnings ratio of 70.56, a PEG ratio of 7.59 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.54.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 EPS. As a group, equities analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

About Tesla

(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

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA – Free Report).