Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,300 shares of the electric vehicle producer’s stock after purchasing an additional 7,791 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Tesla were worth $23,625,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the second quarter valued at $26,000. Abich Financial Wealth Management LLC raised its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the 3rd quarter valued at approximately $29,000. Clean Yield Group grew its position in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in Tesla during the 3rd quarter worth $35,000. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on TSLA. Jefferies Financial Group increased their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. lifted their price target on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Glj Research restated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Thursday, October 17th. Finally, Phillip Securities downgraded Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $243.75.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’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 sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated 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 sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock valued at $92,956,692 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock opened at $350.77 on Tuesday. 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 company’s 50-day simple moving average is $274.55 and its two-hundred day simple moving average is $232.59. Tesla, Inc. has a one year low of $138.80 and a one year high of $361.93. The company has a market capitalization of $1.13 trillion, a P/E ratio of 97.83, a P/E/G ratio of 11.21 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the company posted $0.53 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla, Inc. will post 1.99 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.