Cassaday & Co Wealth Management LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Cassaday & Co Wealth Management LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,752 shares of the electric vehicle producer’s stock after buying an additional 79 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Tesla were worth $3,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in TSLA. China Universal Asset Management Co. Ltd. raised its position in shares of Tesla by 0.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after buying an additional 331 shares during the last quarter. Trustmark National Bank Trust Department purchased a new position in Tesla during the first quarter worth approximately $219,000. PAX Financial Group LLC grew its holdings in Tesla by 9.2% in the 1st quarter. PAX Financial Group LLC now owns 3,276 shares of the electric vehicle producer’s stock valued at $576,000 after buying an additional 277 shares in the last quarter. Safeguard Investment Advisory Group LLC increased its stake in shares of Tesla by 27.8% in the 1st quarter. Safeguard Investment Advisory Group LLC now owns 6,329 shares of the electric vehicle producer’s stock worth $1,113,000 after acquiring an additional 1,375 shares during the last quarter. Finally, Hilltop Partners LLC boosted its position in shares of Tesla by 25.4% during the 1st quarter. Hilltop Partners LLC now owns 6,084 shares of the electric vehicle producer’s stock valued at $1,069,000 after acquiring an additional 1,231 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 3.1 %

TSLA stock opened at $320.72 on Monday. 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 company’s 50-day moving average price is $252.30 and its 200 day moving average price is $221.01. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The company has a market cap of $1.03 trillion, a P/E ratio of 87.87, a P/E/G ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm 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%. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.53 EPS. On average, research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. Citigroup decreased their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. William Blair began coverage on Tesla in a research note on Thursday, August 29th. They set an “outperform” rating for the company. HSBC reaffirmed a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Finally, Guggenheim raised their price target on Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research report on Thursday, October 24th. Nine 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $230.18.

Read Our Latest Stock Report on Tesla

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’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 value 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 7.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,797 shares of company stock valued at $57,616,781. Insiders own 20.70% of the company’s stock.

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.

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