941 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 941 shares of the electric vehicle producer’s stock, valued at approximately $246,000.

A number of other hedge funds have also modified their holdings of the business. First Hawaiian Bank raised its holdings in Tesla by 2.0% during the second quarter. First Hawaiian Bank now owns 7,296 shares of the electric vehicle producer’s stock worth $1,444,000 after purchasing an additional 144 shares in the last quarter. Bank & Trust Co purchased a new position in shares of Tesla in the 2nd quarter valued at about $25,000. Trust Co. of Toledo NA OH lifted its stake in shares of Tesla by 3.8% in the second quarter. Trust Co. of Toledo NA OH now owns 3,373 shares of the electric vehicle producer’s stock valued at $667,000 after purchasing an additional 122 shares during the period. Insight Wealth Strategies LLC boosted its holdings in Tesla by 3.9% during the second quarter. Insight Wealth Strategies LLC now owns 2,805 shares of the electric vehicle producer’s stock worth $555,000 after buying an additional 104 shares in the last quarter. Finally, Fragasso Financial Advisors Inc grew its position in Tesla by 27.2% during the second quarter. Fragasso Financial Advisors Inc now owns 2,273 shares of the electric vehicle producer’s stock worth $450,000 after buying an additional 486 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Tesla stock opened at $345.16 on Monday. The company has a market cap of $1.11 trillion, a price-to-earnings ratio of 94.56, a price-to-earnings-growth ratio of 11.21 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $361.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock’s 50-day moving average is $274.55 and its 200-day moving average is $232.59.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the company posted $0.53 earnings per share. Tesla’s revenue was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TSLA. Barclays boosted their price target on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Piper Sandler lifted their price target on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Truist Financial increased their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Finally, Wedbush restated an “outperform” rating and set a $400.00 target price on shares of Tesla in a report on Monday, November 18th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $231.06.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 301,187 shares of company stock valued at $92,956,692. Company insiders own 20.70% 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.