Objective Capital Management LLC Makes New $820,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Objective Capital Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,133 shares of the electric vehicle producer’s stock, valued at approximately $820,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Integris Wealth Management LLC increased its position in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after buying an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc increased its position in 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 worth $800,000 after buying an additional 43 shares during the period. Echo Wealth Management LLC grew 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 purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co raised its stake in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC raised its stake in shares of Tesla by 1.6% during the second 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 last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,797 shares of company stock worth $19,211,821. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TSLA. Sanford C. Bernstein restated an “underperform” rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price target on shares of Tesla in a research note on Tuesday, September 10th. William Blair began coverage on Tesla in a research note on Thursday, August 29th. They set an “outperform” rating for the company. JPMorgan Chase & Co. upped their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Truist Financial upped their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $222.03.

Tesla Stock Performance

Tesla stock traded up $24.31 during mid-day trading on Friday, hitting $321.22. 204,782,763 shares of the company’s stock traded hands, compared to its average volume of 94,883,055. The firm has a 50 day moving average price of $241.18 and a 200 day moving average price of $214.90. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.03 trillion, a PE ratio of 88.01, a price-to-earnings-growth ratio of 9.51 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $328.71.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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 return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 1.96 EPS for the current year.

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.