Aprio Wealth Management LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Aprio Wealth Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,256 shares of the electric vehicle producer’s stock after buying an additional 495 shares during the quarter. Aprio Wealth Management LLC’s holdings in Tesla were worth $1,898,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after buying an additional 206,248 shares during the last quarter. Morse Asset Management Inc grew its holdings 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 valued at $1,181,000 after purchasing an additional 3,462 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Tesla by 7.4% during the 4th 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 last quarter. NewEdge Advisors LLC grew its holdings in Tesla by 12.9% during the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after purchasing an additional 27,130 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in Tesla during the 1st quarter valued at about $1,941,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated 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 directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. 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 the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,661 shares of company stock valued at $16,663,291. Insiders own 25.10% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $240.83 on Tuesday. The company has a quick ratio of 1.40, a current ratio of 1.91 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 $271.00. The stock has a market cap of $768.05 billion, a PE ratio of 61.44, a price-to-earnings-growth ratio of 6.79 and a beta of 2.29. The firm’s fifty day simple moving average is $224.00 and its 200-day simple moving average is $201.78.

Tesla (NASDAQ:TSLA) last posted its quarterly 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 company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 1.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research reports. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Argus reaffirmed a “buy” rating and issued a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Wedbush reissued an “outperform” rating and set a $300.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Finally, Guggenheim raised their price target on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.