Parkside Advisors LLC Buys New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Parkside Advisors LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 798 shares of the electric vehicle producer’s stock, valued at approximately $209,000.

Several other hedge funds have also recently bought and sold shares of TSLA. Bank & Trust Co bought a new stake in shares of Tesla in the second quarter valued at about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the second quarter valued at about $26,000. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Clean Yield Group boosted its position in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. Finally, M&R Capital Management Inc. boosted its position in shares of 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 acquiring an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ:TSLA opened at $244.50 on Wednesday. The company has a market capitalization of $781.09 billion, a PE ratio of 62.37, a P/E/G ratio of 6.80 and a beta of 2.29. The company has a 50 day simple moving average of $224.61 and a two-hundred day simple moving average of $202.78. 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 fifty-two week low of $138.80 and a fifty-two week high of $271.00.

Tesla (NASDAQ:TSLA) last released 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). The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. Research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on 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 owns 105,032 shares in the company, valued at approximately $26,258,000. This represents 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 worth $16,663,291. Corporate insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. HSBC boosted their target price on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research report on Monday. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Finally, KGI Securities reaffirmed a “neutral” rating and set a $236.00 price objective on shares of Tesla in a research report on Thursday, July 25th. Nine investment 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 company currently has an average rating of “Hold” and an average target price of $210.90.

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.