Triad Wealth Partners LLC Raises Stake in Tesla, Inc. $TSLA

Triad Wealth Partners LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 251.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 14,333 shares of the electric vehicle producer’s stock after buying an additional 10,249 shares during the period. Triad Wealth Partners LLC’s holdings in Tesla were worth $6,374,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chapman Financial Group LLC purchased a new stake in shares of Tesla in the 2nd quarter worth approximately $26,000. LGT Financial Advisors LLC bought a new stake in Tesla in the second quarter worth $29,000. Manning & Napier Advisors LLC purchased a new stake in shares of Tesla in the third quarter worth $29,000. CoreFirst Bank & Trust bought a new position in shares of Tesla during the second quarter valued at $30,000. Finally, ESL Trust Services LLC raised its position in shares of Tesla by 1,900.0% in the 2nd quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 95 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

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Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $445.40, for a total value of $26,724,000.00. Following the transaction, the director owned 577,031 shares in the company, valued at $257,009,607.40. This represents a 9.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the sale, the director owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This trade represents a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 119,457 shares of company stock valued at $53,501,145 in the last quarter. 19.90% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of TSLA opened at $449.06 on Friday. The firm has a fifty day simple moving average of $444.81 and a two-hundred day simple moving average of $403.25. The firm has a market cap of $1.49 trillion, a PE ratio of 299.37, a P/E/G ratio of 7.66 and a beta of 1.83. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on TSLA. New Street Research raised their price objective on shares of Tesla from $520.00 to $600.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of Tesla in a report on Monday, November 17th. President Capital decreased their price objective on shares of Tesla from $529.00 to $517.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. William Blair reiterated a “market perform” rating on shares of Tesla in a research note on Friday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $470.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $410.77.

View Our Latest Stock Analysis on Tesla

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Further Reading

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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