Abacus Planning Group Inc. Purchases 434 Shares of Tesla, Inc. (NASDAQ:TSLA)

Abacus Planning Group Inc. increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 33.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,723 shares of the electric vehicle producer’s stock after buying an additional 434 shares during the period. Abacus Planning Group Inc.’s holdings in Tesla were worth $451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank & Trust Co bought a new stake in shares of Tesla during the 2nd quarter worth $25,000. Abich Financial Wealth Management LLC lifted its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter valued at about $26,000. M&R Capital Management Inc. raised its holdings in shares of 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. Finally, OLD Point Trust & Financial Services N A bought a new stake in Tesla in the 4th quarter worth approximately $37,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSLA has been the topic of several research reports. Morgan Stanley reissued an “overweight” rating and set a $310.00 price target on shares of Tesla in a research note on Thursday, September 5th. Robert W. Baird restated an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. William Blair initiated coverage on Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, The Goldman Sachs Group decreased their price target on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $209.90.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other 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 owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’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 transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. 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 over the last ninety days. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Down 3.5 %

Shares of Tesla stock opened at $249.02 on Thursday. The company has a 50-day simple moving average of $222.99 and a two-hundred day simple moving average of $200.58. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a market capitalization of $795.53 billion, a PE ratio of 63.53, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29.

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

About Tesla

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.