Foundations Investment Advisors LLC Acquires 1,577 Shares of Tesla, Inc. (NASDAQ:TSLA)

Foundations Investment Advisors LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 34,694 shares of the electric vehicle producer’s stock after purchasing an additional 1,577 shares during the period. Foundations Investment Advisors LLC’s holdings in Tesla were worth $9,077,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Integris Wealth Management LLC lifted its position 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 acquiring an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its position in shares of Tesla by 1.4% during the 3rd 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 in the last quarter. Echo Wealth Management LLC lifted its position in shares of Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after buying an additional 44 shares in the last quarter. WASHINGTON TRUST Co lifted its position in shares of Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC lifted 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 buying an additional 45 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.8 %

TSLA opened at $218.85 on Tuesday. The company has a fifty day moving average price of $228.09 and a 200-day moving average price of $205.99. The firm has a market capitalization of $699.15 billion, a P/E ratio of 61.47, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent analyst reports. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Canaccord Genuity Group reissued a “buy” rating and set a $254.00 target price on shares of Tesla in a research report on Friday, September 13th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Barclays dropped their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Finally, China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a report on Friday, July 5th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $211.63.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other 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 transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,661 shares of company stock valued at $16,663,291. Insiders own 20.70% of the company’s stock.

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.