3Chopt Investment Partners LLC Purchases Shares of 6,684 Tesla, Inc. (NASDAQ:TSLA)

3Chopt Investment Partners LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,684 shares of the electric vehicle producer’s stock, valued at approximately $1,323,000.

Several other large investors have also recently made changes to their positions in the company. Bank & Trust Co acquired a new position in Tesla in the 2nd quarter worth about $25,000. Abich Financial Wealth Management LLC lifted its stake in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Valley Wealth Managers Inc. acquired a new stake in Tesla in the 2nd quarter worth about $26,000. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the 4th quarter worth approximately $37,000. Finally, Guardian Wealth Management Inc. acquired a new position in shares of Tesla during the fourth quarter valued at approximately $47,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was 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 in the company, valued at $18,696,600. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is owned by company insiders.

Tesla Price Performance

Shares of TSLA opened at $261.63 on Tuesday. The firm has a fifty day moving average price of $222.10 and a 200 day moving average price of $199.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The stock has a market cap of $835.81 billion, a PE ratio of 66.74, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly 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 net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter last year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TSLA. Guggenheim lifted their price target on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a research report on Wednesday, July 24th. The Goldman Sachs Group reduced their price objective on Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Piper Sandler lifted their price target on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $224.00 price objective on shares of Tesla in a research 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $209.90.

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.