Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 2.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 82,018 shares of the electric vehicle producer’s stock after acquiring an additional 2,151 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Tesla were worth $21,458,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Connable Office Inc. grew its holdings in Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares during the last quarter. Community Bank N.A. boosted its holdings in shares of Tesla by 4.4% during the 3rd quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after buying an additional 38 shares during the period. Holistic Financial Partners grew its stake in Tesla by 1.0% in the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares during the last quarter. Integris Wealth Management LLC lifted its position in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the last quarter. Finally, Sherrill & Hutchins Financial Advisory Inc boosted its holdings 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 valued at $800,000 after acquiring an additional 43 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TSLA shares. Canaccord Genuity Group boosted their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $245.84.

Tesla Stock Performance

TSLA stock opened at $389.22 on Friday. The company has a 50 day moving average price of $282.96 and a 200 day moving average price of $236.89. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $389.49. 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 $1.25 trillion, a PE ratio of 106.64, a price-to-earnings-growth ratio of 11.62 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.53 earnings per share. Analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 520,280 shares of company stock valued at $170,418,640. 20.70% of the stock is currently owned by insiders.

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.