Prospera Private Wealth LLC Acquires New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Prospera Private Wealth LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 1,899 shares of the electric vehicle producer's stock, valued at approximately $497,000.

Several other hedge funds have also added to or reduced their stakes in TSLA. Bank & Trust Co bought a new stake in shares of Tesla in the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC raised its stake in Tesla by 168.8% during the second 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 last quarter. Transcendent Capital Group LLC purchased a new position in Tesla in the third quarter worth about $29,000. Finally, Clean Yield Group lifted its stake in shares of 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 buying an additional 48 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

NASDAQ TSLA opened at $342.03 on Thursday. The stock has a market capitalization of $1.10 trillion, a PE ratio of 93.71, a P/E/G ratio of 11.24 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The business has a 50 day simple moving average of $259.42 and a two-hundred day simple moving average of $224.12. 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 (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 business had revenue of $25.18 billion during the quarter, compared to analysts' expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business's revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. On average, research analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays upped their price objective on Tesla from $220.00 to $235.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 29th. The Goldman Sachs Group increased their price objective on Tesla from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on shares of Tesla from $130.00 to $135.00 and gave the company an "underweight" rating in a research note on Thursday, October 24th. Truist Financial increased their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a "hold" rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. Nine 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 an average rating of "Hold" and an average price target of $230.18.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm'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 $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $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 301,187 shares of company stock valued at $92,956,692 over the last ninety days. 20.70% of the stock is owned by insiders.

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.