Objective Capital Management LLC Makes New $820,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Objective Capital Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,133 shares of the electric vehicle producer's stock, valued at approximately $820,000.

Several other large investors have also recently added to or reduced their stakes in TSLA. Bank & Trust Co purchased a new position in shares of Tesla in the 2nd quarter valued at about $25,000. Clean Yield Group lifted its position 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 acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC boosted 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 worth $26,000 after acquiring an additional 81 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in Tesla in the 2nd quarter valued at approximately $26,000. Finally, M&R Capital Management Inc. raised its holdings in 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 purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the business's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company's stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,797 shares of company stock worth $19,211,821 over the last ninety days. Corporate insiders own 20.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on TSLA shares. Canaccord Genuity Group lifted their price target on Tesla from $254.00 to $278.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Glj Research restated a "sell" rating and set a $24.86 target price on shares of Tesla in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an "underweight" rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Finally, Guggenheim increased their target price on Tesla from $153.00 to $156.00 and gave the company a "sell" rating in a report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $222.03.

Tesla Stock Up 8.2 %

Tesla stock traded up $24.31 during midday trading on Friday, hitting $321.22. 204,782,763 shares of the company were exchanged, compared to its average volume of 94,883,055. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $328.71. The company's fifty day moving average price is $241.18 and its 200-day moving average price is $214.90. The company has a market cap of $1.03 trillion, a PE ratio of 88.01, a price-to-earnings-growth ratio of 9.51 and a beta of 2.29.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. The business's quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

About Tesla

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.