HM Payson & Co. Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

HM Payson & Co. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 16.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,624 shares of the electric vehicle producer’s stock after buying an additional 662 shares during the period. HM Payson & Co.’s holdings in Tesla were worth $1,210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSLA. Integris Wealth Management LLC raised its holdings in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc increased its position in shares of Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after acquiring an additional 43 shares during the last quarter. Echo Wealth Management LLC raised its stake in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares during the period. WASHINGTON TRUST Co lifted its holdings in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after acquiring an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC boosted its position in shares of Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction 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 directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,297 shares of company stock worth $3,065,866 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Stock Down 3.0 %

TSLA opened at $249.85 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $273.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market capitalization of $802.03 billion, a P/E ratio of 68.45, a price-to-earnings-growth ratio of 8.49 and a beta of 2.29. The business’s 50-day simple moving average is $233.56 and its 200-day simple moving average is $209.78.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 earnings per share. Analysts anticipate that Tesla, Inc. will post 1.96 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on TSLA shares. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and upped their price target for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Bank of America raised their target price on Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note 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 given a buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $219.45.

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.