Oak Harvest Investment Services Buys Shares of 1,220 Tesla, Inc. (NASDAQ:TSLA)

Oak Harvest Investment Services acquired a new position in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,220 shares of the electric vehicle producer’s stock, valued at approximately $319,000.

Several other large investors have also recently made changes to their positions in TSLA. Cornerstone Wealth Management LLC lifted its holdings in Tesla by 3.2% during the 1st quarter. Cornerstone Wealth Management LLC now owns 15,032 shares of the electric vehicle producer’s stock worth $2,642,000 after buying an additional 472 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in Tesla by 24.6% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 1,185 shares of the electric vehicle producer’s stock worth $208,000 after buying an additional 234 shares in the last quarter. FORVIS Wealth Advisors LLC lifted its holdings in Tesla by 82.5% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 10,264 shares of the electric vehicle producer’s stock worth $1,804,000 after buying an additional 4,640 shares in the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in Tesla by 5.4% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 11,093 shares of the electric vehicle producer’s stock worth $1,950,000 after buying an additional 567 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Tesla by 0.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after buying an additional 331 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ:TSLA opened at $257.55 on Thursday. The firm has a 50 day simple moving average of $232.78 and a 200-day simple moving average of $209.50. 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 firm has a market cap of $826.75 billion, a PE ratio of 70.56, a P/E/G ratio of 7.59 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54.

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

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’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 transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,297 shares of company stock valued at $3,065,866. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on TSLA shares. Truist Financial increased their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Royal Bank of Canada increased their target price on shares of Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and raised their price objective for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research report on Wednesday, October 23rd. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $219.45.

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.