RKL Wealth Management LLC Purchases 852 Shares of Tesla, Inc. (NASDAQ:TSLA)

RKL Wealth Management LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 9.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,763 shares of the electric vehicle producer’s stock after buying an additional 852 shares during the period. RKL Wealth Management LLC’s holdings in Tesla were worth $2,554,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Bank & Trust Co acquired a new stake in shares of Tesla during the second quarter worth about $25,000. Clean Yield Group raised its holdings 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 buying an additional 48 shares during the period. Abich Financial Wealth Management LLC lifted its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the second quarter valued at approximately $26,000. Finally, M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $251.76, for a total transaction of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,797 shares of company stock valued at $19,211,821. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Tesla stock opened at $321.22 on Friday. The company has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 88.01, a PEG ratio of 10.59 and a beta of 2.29. The stock’s 50 day moving average is $241.18 and its 200-day moving average is $214.90. 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, Inc. has a 12 month low of $138.80 and a 12 month high of $328.71.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.53 EPS. Equities research analysts expect that Tesla, Inc. will post 1.96 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on TSLA shares. HSBC reaffirmed a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. William Blair initiated coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating for the company. Royal Bank of Canada lifted their target price on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price target on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group lifted their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $222.03.

Tesla 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.