BIP Wealth LLC Raises Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

BIP Wealth LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 198.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,449 shares of the electric vehicle producer's stock after purchasing an additional 3,621 shares during the quarter. BIP Wealth LLC's holdings in Tesla were worth $1,426,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Transcendent Capital Group LLC acquired a new stake in shares of Tesla during the 3rd quarter valued at approximately $29,000. Bank & Trust Co purchased a new stake in Tesla in the 2nd quarter worth approximately $25,000. Clean Yield Group grew its stake in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after buying an additional 48 shares during the period. Abich Financial Wealth Management LLC grew its stake in shares of Tesla by 168.8% during the 2nd 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 during the period. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the 2nd quarter valued at $26,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Piper Sandler lifted their target price on shares of Tesla from $310.00 to $315.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Thursday, October 24th. Stifel Nicolaus upped their target price on shares of Tesla from $265.00 to $287.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $245.00 price objective on shares of Tesla in a research report on Wednesday, October 23rd. Finally, Wolfe Research initiated coverage on shares of Tesla in a research report on Thursday, September 5th. They issued a "peer perform" rating for the company. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $230.18.

Tesla Stock Up 2.1 %

NASDAQ:TSLA traded up $7.25 on Tuesday, hitting $345.99. The stock had a trading volume of 66,015,559 shares, compared to its average volume of 96,021,508. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $358.64. The firm's fifty day simple moving average is $254.75 and its two-hundred day simple moving average is $222.13. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The stock has a market cap of $1.11 trillion, a P/E ratio of 94.55, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.14. The company 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 business's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS. Analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company's stock, valued at approximately $36,761,200. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla 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 transaction, the senior vice president now directly owns 67,491 shares of the company's stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock worth $57,616,781 over the last three months. 20.70% of the stock is currently owned by insiders.

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.