Catalytic Wealth RIA LLC Has $958,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

Catalytic Wealth RIA LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 2.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,660 shares of the electric vehicle producer’s stock after selling 87 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Tesla were worth $958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tyler Stone Wealth Management grew its position in shares of Tesla by 109.6% in the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after purchasing an additional 4,929 shares during the period. Principal Financial Group Inc. raised its stake in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after acquiring an additional 206,248 shares during the period. Scott & Selber Inc. raised its stake in Tesla by 80.3% in the 3rd quarter. Scott & Selber Inc. now owns 12,659 shares of the electric vehicle producer’s stock valued at $3,312,000 after acquiring an additional 5,639 shares during the period. Finally, AIA Group Ltd increased its position in Tesla by 10.1% during the 3rd quarter. AIA Group Ltd now owns 83,374 shares of the electric vehicle producer’s stock worth $21,813,000 after buying an additional 7,655 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 8.2 %

Shares of TSLA stock opened at $321.22 on Monday. The company has a market cap of $1.03 trillion, a P/E ratio of 88.01, a PEG ratio of 10.59 and a beta of 2.29. The stock has a 50 day simple moving average of $241.18 and a two-hundred day simple moving average of $215.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $328.71.

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

Insider Activity

In other news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred 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 transaction, the senior vice president now 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction that occurred on 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 transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock worth $19,211,821 over the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on TSLA shares. Wells Fargo & Company increased their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Truist Financial increased their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Bank of America increased their target price on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday. Finally, New Street Research lowered 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. 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $222.03.

View Our Latest Stock Analysis on Tesla

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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