Hennion & Walsh Asset Management Inc. Acquires 1,059 Shares of Tesla, Inc. (NASDAQ:TSLA)

Hennion & Walsh Asset Management Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 34.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,166 shares of the electric vehicle producer’s stock after acquiring an additional 1,059 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Tesla were worth $1,087,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. Finally, ARK Investment Management LLC boosted its position in shares of Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after acquiring an additional 135,966 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly 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 disclosure for this sale can be found here. 25.10% of the stock is currently owned by company insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $269.19 on Monday. The business has a 50-day moving average price of $230.53 and a two-hundred day moving average price of $207.92. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market cap of $858.50 billion, a P/E ratio of 68.67, a PEG ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the firm posted $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent analyst reports. Jefferies Financial Group upped their target price on Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Citigroup reduced their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Bank of America boosted their target price on Tesla from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. raised their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, William Blair assumed coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $219.00.

Tesla Profile

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.