Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Destination Wealth Management

Destination Wealth Management grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,597 shares of the electric vehicle producer's stock after buying an additional 1,359 shares during the quarter. Destination Wealth Management's holdings in Tesla were worth $3,296,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TSLA. World Investment Advisors LLC increased its stake in Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer's stock valued at $52,124,000 after purchasing an additional 184,459 shares in the last quarter. Vinva Investment Management Ltd grew its holdings in Tesla by 59.2% in the third quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer's stock valued at $30,593,000 after purchasing an additional 43,685 shares during the last quarter. MML Investors Services LLC increased its position in shares of Tesla by 3.3% in the third quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer's stock valued at $80,944,000 after buying an additional 9,919 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Tesla by 1.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer's stock worth $37,801,000 after buying an additional 1,741 shares during the last quarter. Finally, Tyler Stone Wealth Management boosted its position in shares of Tesla by 109.6% in the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer's stock worth $2,466,000 after buying an additional 4,929 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at approximately $26,258,000. This represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 522,886 shares of company stock valued at $171,393,831. Insiders own 20.70% of the company's stock.

Tesla Stock Down 1.6 %

Shares of NASDAQ TSLA traded down $6.67 during trading on Thursday, reaching $418.10. 87,272,876 shares of the stock were exchanged, compared to its average volume of 94,731,289. The company has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 116.58, a price-to-earnings-growth ratio of 12.64 and a beta of 2.36. The business's 50-day moving average price is $294.47 and its 200 day moving average price is $243.51. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $429.30.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm's revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.53 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TSLA shares. Oppenheimer restated a "market perform" rating on shares of Tesla in a report on Tuesday, October 8th. Morgan Stanley raised their price objective on shares of Tesla from $310.00 to $400.00 and gave the stock an "overweight" rating in a research note on Tuesday. Bank of America upped their target price on Tesla from $350.00 to $400.00 and gave the company a "buy" rating in a research note on Thursday, December 5th. Sanford C. Bernstein reissued an "underperform" rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $295.00 to $370.00 and gave the company a "buy" rating in a research report on Monday. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $257.36.

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.