Heritage Wealth Partners LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Heritage Wealth Partners LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,591 shares of the electric vehicle producer’s stock, valued at approximately $678,000.

A number of other large investors also recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new stake in Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla during the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC boosted its position 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 during the period. Clean Yield Group grew its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSLA. Robert W. Baird reissued an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research note on Tuesday, August 20th. Wells Fargo & Company reiterated an “underweight” rating and issued a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Royal Bank of Canada upped their target price on Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a report on Tuesday. KGI Securities reiterated a “neutral” rating and issued a $236.00 price target on shares of Tesla in a report on Thursday, July 25th. Finally, Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $210.90.

Tesla Stock Down 1.4 %

TSLA stock opened at $241.05 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The stock has a market capitalization of $770.07 billion, a P/E ratio of 61.49, a P/E/G ratio of 6.80 and a beta of 2.29. The business has a fifty day moving average price of $224.79 and a 200-day moving average price of $203.05.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the business earned $0.78 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is owned by insiders.

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.