Central Valley Advisors LLC Invests $1.09 Million in Tesla, Inc. (NASDAQ:TSLA)

Central Valley Advisors LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,147 shares of the electric vehicle producer’s stock, valued at approximately $1,085,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank & Trust Co bought a new position in Tesla in the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC increased its position in shares of 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 acquiring an additional 81 shares in the last quarter. M&R Capital Management Inc. lifted its position in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.9 %

TSLA stock traded up $9.42 during midday trading on Friday, reaching $250.08. The company’s stock had a trading volume of 86,726,285 shares, compared to its average volume of 81,772,848. The firm has a market capitalization of $798.92 billion, a price-to-earnings ratio of 63.80, a PEG ratio of 6.79 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The stock has a fifty day simple moving average of $224.00 and a two-hundred day simple moving average of $201.39.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.78 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 1.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Mizuho increased their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Royal Bank of Canada reissued an “outperform” rating and set a $224.00 price objective on shares of Tesla in a report on Wednesday, September 25th. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Guggenheim increased their price target on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a report on Friday, September 13th. Finally, New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research report on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $210.54.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla 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 transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $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 8,000 shares of the 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 sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

Tesla 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.