ACT Advisors LLC. Invests $255,000 in Tesla, Inc. (NASDAQ:TSLA)

ACT Advisors LLC. acquired a new position in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, Holdings Channel.com reports. The fund acquired 974 shares of the electric vehicle producer’s stock, valued at approximately $255,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Vest Financial LLC raised its stake in Tesla by 202.1% in the third quarter. Vest Financial LLC now owns 10,286 shares of the electric vehicle producer’s stock valued at $2,691,000 after buying an additional 6,881 shares during the last quarter. Lee Johnson Capital Management LLC acquired a new position in shares of Tesla during the third quarter valued at about $4,216,000. West Branch Capital LLC boosted its stake in Tesla by 42.0% in the 3rd quarter. West Branch Capital LLC now owns 4,502 shares of the electric vehicle producer’s stock worth $1,178,000 after purchasing an additional 1,332 shares in the last quarter. Essex LLC purchased a new stake in Tesla during the 3rd quarter worth approximately $235,000. Finally, Atlas Wealth Partners LLC increased its stake in Tesla by 3.2% during the 3rd quarter. Atlas Wealth Partners LLC now owns 1,632 shares of the electric vehicle producer’s stock valued at $427,000 after purchasing an additional 50 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 in the last 90 days. 20.70% of the stock is owned by insiders.

Tesla Stock Down 0.1 %

TSLA opened at $220.70 on Monday. The company has a market cap of $705.06 billion, a PE ratio of 61.99, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The company has a 50-day moving average price of $227.67 and a 200 day moving average price of $205.65. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TSLA shares. Morgan Stanley reissued an “overweight” rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Argus reaffirmed a “buy” rating and set a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research note on Friday, July 5th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $210.72.

Tesla Company 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.