Savvy Advisors Inc. Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Savvy Advisors Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,527 shares of the electric vehicle producer's stock after buying an additional 1,467 shares during the quarter. Savvy Advisors Inc.'s holdings in Tesla were worth $1,969,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in TSLA. Bank & Trust Co bought a new position in shares of Tesla in the second quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC increased its position in 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 purchasing an additional 81 shares during the period. Transcendent Capital Group LLC purchased a new stake in shares of Tesla during the 3rd quarter worth approximately $29,000. Finally, Clean Yield Group raised its holdings in Tesla by 60.0% in 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 last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Bank of America raised their price objective on shares of Tesla from $265.00 to $350.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Roth Mkm reiterated a "neutral" rating and issued a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Robert W. Baird restated an "outperform" rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Wells Fargo & Company raised their target price on shares of Tesla from $120.00 to $125.00 and gave the company an "underweight" rating in a research note on Thursday, October 24th. Finally, Wedbush lifted their price target on shares of Tesla from $300.00 to $400.00 and gave the stock an "outperform" rating in a research note on Monday. Eight investment 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 stock has a consensus rating of "Hold" and an average price target of $225.06.

Tesla Price Performance

Shares of TSLA traded down $21.51 during trading hours on Tuesday, reaching $328.49. 153,698,466 shares of the company traded hands, compared to its average volume of 95,685,164. The stock has a market capitalization of $1.05 trillion, a PE ratio of 94.16, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29. The stock has a fifty day simple moving average of $243.90 and a 200 day simple moving average of $217.03. 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 fifty-two week low of $138.80 and a fifty-two week high of $358.64.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter last year, the company earned $0.53 EPS. The firm's quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tesla news, Director Kimbal Musk sold 60,500 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares of the company's stock, valued at approximately $391,164,540.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company's stock in a transaction that occurred 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 owns 105,032 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 76,797 shares of company stock valued at $19,211,821. Company insiders own 20.70% of the company's stock.

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.