Eagle Strategies LLC Purchases 1,985 Shares of Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Eagle Strategies LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 41.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,780 shares of the electric vehicle producer’s stock after acquiring an additional 1,985 shares during the quarter. Eagle Strategies LLC’s holdings in Tesla were worth $1,774,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Bank & Trust Co bought a new stake in Tesla during the 2nd quarter valued at about $25,000. Clean Yield Group lifted its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC lifted its holdings in 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 buying an additional 81 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in Tesla during the 2nd quarter valued at about $26,000. Finally, M&R Capital Management Inc. lifted its holdings in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $259.52 on Wednesday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54. The firm has a market capitalization of $833.07 billion, a price-to-earnings ratio of 71.10, a PEG ratio of 7.59 and a beta of 2.29. The company has a fifty day simple moving average of $232.09 and a 200-day simple moving average of $209.16. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA – Get Free Report) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 in the prior year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’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 value of $65,865.69. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’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 transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,297 shares of company stock valued at $3,065,866 over the last 90 days. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

TSLA has been the topic of a number of research reports. Canaccord Genuity Group raised their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Argus reissued a “buy” rating and set a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Bank of America lifted their price objective on shares of Tesla from $255.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Citigroup cut their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Barclays lifted their price objective on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $219.45.

View Our Latest Analysis on TSLA

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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