United Asset Strategies Inc. Has $3.03 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

United Asset Strategies Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 44.1% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 11,569 shares of the electric vehicle producer's stock after buying an additional 3,539 shares during the period. United Asset Strategies Inc.'s holdings in Tesla were worth $3,027,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new position in Tesla in the second quarter worth about $25,000. Clean Yield Group raised its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC raised its position 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 worth $26,000 after purchasing an additional 81 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in Tesla in the second quarter worth about $26,000. Finally, M&R Capital Management Inc. raised its position in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Down 3.0 %

TSLA traded down $7.70 during mid-day trading on Thursday, hitting $249.85. The stock had a trading volume of 66,379,274 shares, compared to its average volume of 94,351,008. The stock's fifty day simple moving average is $232.78 and its 200-day simple moving average is $209.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a market capitalization of $802.03 billion, a price-to-earnings ratio of 68.45, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54.

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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the business posted $0.53 earnings per share. The firm's quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of the firm's 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 sale, the senior vice president now directly 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 legal filing with the SEC, which is available at this hyperlink. In other Tesla 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 value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,297 shares of company stock worth $3,065,866 over the last ninety days. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Wolfe Research initiated coverage on shares of Tesla in a research note on Thursday, September 5th. They set a "peer perform" rating on the stock. Oppenheimer reaffirmed a "market perform" rating on shares of Tesla in a research note on Tuesday, October 8th. StockNews.com raised shares of Tesla from a "sell" rating to a "hold" rating in a research note on Thursday, October 24th. Canaccord Genuity Group upped their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Finally, Citigroup decreased their price objective on shares of Tesla from $274.00 to $258.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 24th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $219.45.

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.