Sherrill & Hutchins Financial Advisory Inc Acquires 43 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sherrill & Hutchins Financial Advisory Inc lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,058 shares of the electric vehicle producer’s stock after purchasing an additional 43 shares during the quarter. Tesla accounts for about 0.7% of Sherrill & Hutchins Financial Advisory Inc’s portfolio, making the stock its 5th largest position. Sherrill & Hutchins Financial Advisory Inc’s holdings in Tesla were worth $800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Bank & Trust Co acquired a new position in shares of Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter valued at about $26,000. Abich Financial Wealth Management LLC raised its holdings 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 last quarter. M&R Capital Management Inc. lifted its holdings in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the period. Finally, Kessler Investment Group LLC lifted its stake in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 3.7 %

Shares of Tesla stock opened at $240.83 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The company’s 50 day moving average price is $224.00 and its 200-day moving average price is $201.78. The stock has a market capitalization of $768.05 billion, a price-to-earnings ratio of 61.44, a P/E/G ratio of 6.79 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts forecast that Tesla, Inc. will post 1.74 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Royal Bank of Canada lifted their target price on Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup decreased their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. HSBC raised their target price on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Finally, TD Cowen upped their price objective on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $210.90.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. 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 is available at this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 over the last 90 days. 25.10% of the stock is owned by company 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.