Tesla, Inc. (NASDAQ:TSLA) Shares Bought by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,566 shares of the electric vehicle producer’s stock after purchasing an additional 9,426 shares during the quarter. Tesla accounts for approximately 1.1% of First Trust Direct Indexing L.P.’s portfolio, making the stock its 9th largest holding. First Trust Direct Indexing L.P.’s holdings in Tesla were worth $21,340,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TSLA. Edge Financial Advisors LLC acquired a new position in shares of Tesla during the 3rd quarter worth approximately $582,000. Highline Wealth Partners LLC purchased a new stake in Tesla in the 3rd quarter worth $4,484,000. GSB Wealth Management LLC acquired a new position in Tesla during the third quarter worth $209,000. Childress Capital Advisors LLC lifted its holdings in Tesla by 15.9% during the third quarter. Childress Capital Advisors LLC now owns 8,023 shares of the electric vehicle producer’s stock valued at $2,099,000 after purchasing an additional 1,101 shares in the last quarter. Finally, Foundation Wealth Management LLC acquired a new stake in shares of Tesla in the third quarter valued at about $225,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TSLA shares. Wells Fargo & Company raised their price target on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. TD Cowen increased their price objective on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research note on Friday, July 5th. Finally, Wedbush restated an “outperform” rating and set a $300.00 price target on shares of Tesla in a research report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $219.45.

Tesla Stock Up 0.9 %

Shares of NASDAQ:TSLA traded up $2.28 during trading on Wednesday, hitting $261.80. 27,513,329 shares of the company were exchanged, compared to its average volume of 94,349,781. The firm’s 50 day moving average price is $232.09 and its 200-day moving average price is $209.16. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market capitalization of $840.39 billion, a P/E ratio of 71.63, a PEG ratio of 7.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. 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 accessible 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,297 shares of company stock worth $3,065,866 in the last quarter. 20.70% of the stock is owned by insiders.

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.