Red Spruce Capital LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Red Spruce Capital LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 4.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,963 shares of the electric vehicle producer’s stock after purchasing an additional 78 shares during the period. Red Spruce Capital LLC’s holdings in Tesla were worth $514,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. waypoint wealth counsel increased its position in Tesla by 20.8% during the third quarter. waypoint wealth counsel now owns 1,776 shares of the electric vehicle producer’s stock worth $465,000 after buying an additional 306 shares in the last quarter. Halpern Financial Inc. increased its position in Tesla by 51.5% during the third quarter. Halpern Financial Inc. now owns 506 shares of the electric vehicle producer’s stock worth $126,000 after buying an additional 172 shares in the last quarter. Mirador Capital Partners LP increased its position in Tesla by 14.5% during the third quarter. Mirador Capital Partners LP now owns 4,304 shares of the electric vehicle producer’s stock worth $1,126,000 after buying an additional 544 shares in the last quarter. Central Valley Advisors LLC purchased a new position in Tesla during the third quarter worth $1,085,000. Finally, Great Waters Wealth Management increased its position in Tesla by 8.8% during the third quarter. Great Waters Wealth Management now owns 3,540 shares of the electric vehicle producer’s stock worth $926,000 after buying an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.9 %

Tesla stock traded up $9.42 during midday trading on Friday, hitting $250.08. The stock had a trading volume of 86,726,285 shares, compared to its average volume of 81,772,848. 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 stock has a market cap 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 12 month low of $138.80 and a 12 month high of $271.00. The business has a fifty day moving average price of $224.00 and a 200 day moving average price of $201.60.

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). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 1.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. TD Cowen raised their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Citigroup decreased their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, Wolfe Research began coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Nine 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’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $210.54.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred 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 owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 over the last ninety days. Company insiders own 25.10% of the company’s stock.

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.