10,750 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Walker Asset Management LLC

Walker Asset Management LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,750 shares of the electric vehicle producer’s stock, valued at approximately $2,813,000. Tesla comprises about 1.7% of Walker Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new position in Tesla in the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the second quarter valued at about $26,000. Abich Financial Wealth Management LLC boosted 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 valued at $26,000 after buying an additional 81 shares during the period. Clean Yield Group lifted its position 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 buying an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. grew its position in Tesla by 263.2% during 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 last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA traded up $39.29 during mid-day trading on Thursday, hitting $252.94. 114,803,219 shares of the company traded hands, compared to its average volume of 93,924,000. The stock’s fifty day moving average price is $228.54 and its 200-day moving average price is $206.41. The firm has a market cap of $808.05 billion, a price-to-earnings ratio of 70.27, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. 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, Inc. has a one year low of $138.80 and a one year high of $271.00.

Tesla (NASDAQ:TSLA) last posted 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). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Guggenheim upped their price objective on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Jefferies Financial Group increased their target price on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a report on Monday. Bank of America upped their target price on Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday. Mizuho increased their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Finally, TD Cowen upped their price target on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $216.87.

Insider Activity at Tesla

In other news, 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the 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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 20.70% 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.