Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Cedrus LLC

by · The Markets Daily

Cedrus LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 10.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,118 shares of the electric vehicle producer’s stock after acquiring an additional 285 shares during the quarter. Cedrus LLC’s holdings in Tesla were worth $816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RFG Advisory LLC grew its position in Tesla by 3.2% during the 1st quarter. RFG Advisory LLC now owns 10,122 shares of the electric vehicle producer’s stock worth $1,779,000 after purchasing an additional 311 shares during the last quarter. Salem Investment Counselors Inc. grew its position in Tesla by 24.6% during the 1st quarter. Salem Investment Counselors Inc. now owns 20,130 shares of the electric vehicle producer’s stock worth $3,539,000 after purchasing an additional 3,980 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in Tesla during the 1st quarter worth $279,000. Baker Boyer National Bank grew its position in Tesla by 10.2% during the 1st quarter. Baker Boyer National Bank now owns 2,661 shares of the electric vehicle producer’s stock worth $468,000 after purchasing an additional 247 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its position in Tesla by 11.5% during the 1st quarter. AdvisorNet Financial Inc now owns 19,424 shares of the electric vehicle producer’s stock worth $3,415,000 after purchasing an additional 2,004 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ:TSLA opened at $220.70 on Friday. The firm has a 50 day simple moving average of $227.67 and a 200-day simple moving average of $205.39. 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 $703.86 billion, a PE ratio of 56.30, a P/E/G ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00.

Tesla (NASDAQ:TSLA – Get Free Report) last posted 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). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the firm earned $0.78 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 in the company, valued at approximately $26,258,000. 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 can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of several research reports. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Monday, October 7th. HSBC reaffirmed a “reduce” rating and issued a $124.00 target price on shares of Tesla in a report on Friday, October 11th. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a report on Wednesday, July 24th. Finally, China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Friday, July 5th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $210.72.

Check Out Our Latest Stock Report on TSLA

Tesla Company 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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