waypoint wealth counsel Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

waypoint wealth counsel grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,776 shares of the electric vehicle producer’s stock after purchasing an additional 306 shares during the quarter. waypoint wealth counsel’s holdings in Tesla were worth $465,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after acquiring an additional 206,248 shares during the period. Morse Asset Management Inc grew its position in Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after purchasing an additional 3,462 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in Tesla by 7.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after purchasing an additional 1,943 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after buying an additional 27,130 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Tesla during the first quarter worth about $1,941,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 3.9 %

Shares of NASDAQ TSLA traded up $9.42 during midday trading on Friday, reaching $250.08. 86,726,285 shares of the stock were exchanged, compared to its average volume of 81,772,848. The stock has a 50 day moving average price of $224.00 and a 200-day moving average price of $201.60. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $798.92 billion, a P/E ratio of 63.80, a P/E/G ratio of 6.79 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 1.74 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value 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 approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on TSLA shares. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Thursday. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and lifted their price objective for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Wolfe Research started coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. TD Cowen lifted their target price on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $224.00 price target on shares of Tesla in a report on Wednesday, September 25th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $210.54.

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.