First Trust Direct Indexing L.P. Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

First Trust Direct Indexing L.P. lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 81,566 shares of the electric vehicle producer's stock after buying an additional 9,426 shares during the quarter. Tesla comprises 1.1% of First Trust Direct Indexing L.P.'s investment portfolio, making the stock its 9th largest holding. First Trust Direct Indexing L.P.'s holdings in Tesla were worth $21,340,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Edge Financial Advisors LLC acquired a new stake in shares of Tesla in the third quarter worth $582,000. Highline Wealth Partners LLC bought a new stake in Tesla in the 3rd quarter valued at $4,484,000. GSB Wealth Management LLC acquired a new position in shares of Tesla in the 3rd quarter valued at $209,000. Childress Capital Advisors LLC lifted its holdings in shares of Tesla by 15.9% during the 3rd quarter. Childress Capital Advisors LLC now owns 8,023 shares of the electric vehicle producer's stock worth $2,099,000 after acquiring an additional 1,101 shares during the period. Finally, Foundation Wealth Management LLC acquired a new stake in shares of Tesla during the 3rd quarter valued at about $225,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company's stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,297 shares of company stock worth $3,065,866 over the last 90 days. Company insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Wedbush reissued an "outperform" rating and issued a $300.00 price target on shares of Tesla in a research report on Thursday, October 24th. Jefferies Financial Group increased their target price on Tesla from $165.00 to $195.00 and gave the stock a "hold" rating in a report on Monday, October 21st. Sanford C. Bernstein restated an "underperform" rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Royal Bank of Canada upped their price target on Tesla from $236.00 to $249.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Finally, Phillip Securities raised Tesla to a "moderate sell" rating in a report on Friday, October 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $219.45.

Tesla Stock Down 0.8 %

Shares of NASDAQ TSLA traded down $1.97 during mid-day trading on Wednesday, hitting $257.55. The company had a trading volume of 53,762,952 shares, compared to its average volume of 94,483,008. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $232.09 and a two-hundred day simple moving average of $209.16. The company has a market capitalization of $826.75 billion, a PE ratio of 70.56, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $273.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results 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. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. The business's quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

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.