Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,951 shares of the electric vehicle producer’s stock after purchasing an additional 1,086 shares during the period. Rehmann Capital Advisory Group’s holdings in Tesla were worth $4,435,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TSLA. TD Private Client Wealth LLC raised its holdings in shares of Tesla by 4.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 11,046 shares of the electric vehicle producer’s stock valued at $2,890,000 after buying an additional 475 shares during the period. Fortem Financial Group LLC raised its stake in shares of Tesla by 8.3% during the third quarter. Fortem Financial Group LLC now owns 23,058 shares of the electric vehicle producer’s stock valued at $6,033,000 after purchasing an additional 1,766 shares during the period. Arete Wealth Advisors LLC purchased a new position in shares of Tesla in the third quarter valued at $4,084,000. Teachers Retirement System of The State of Kentucky grew its holdings in Tesla by 2.7% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 349,008 shares of the electric vehicle producer’s stock valued at $91,310,000 after purchasing an additional 9,284 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Tesla by 52.5% during the 3rd quarter. Toronto Dominion Bank now owns 1,691,928 shares of the electric vehicle producer’s stock worth $442,659,000 after buying an additional 582,738 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. The trade was a 94.88 % 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 2,606 shares of the stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at $40,775,792.65. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 522,886 shares of company stock valued at $171,393,831 over the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 2.9 %

TSLA stock opened at $400.99 on Wednesday. The firm’s 50-day moving average is $288.09 and its two-hundred day moving average is $240.67. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 109.86, a price-to-earnings-growth ratio of 12.64 and a beta of 2.36. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $409.73. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

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. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TSLA shares. Jefferies Financial Group raised their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $85.00 to $380.00 in a report on Monday, December 2nd. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. UBS Group lifted their price target on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. Finally, Morgan Stanley increased their price objective on shares of Tesla from $310.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday. Nine investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $257.36.

About Tesla

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.