Capital Investment Counsel Inc Acquires 416 Shares of Tesla, Inc. (NASDAQ:TSLA)

Capital Investment Counsel Inc boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 14.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,370 shares of the electric vehicle producer’s stock after purchasing an additional 416 shares during the quarter. Capital Investment Counsel Inc’s holdings in Tesla were worth $882,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank & Trust Co bought a new position in Tesla in the 2nd quarter worth approximately $25,000. Clean Yield Group boosted its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Abich Financial Wealth Management LLC boosted 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 worth $26,000 after purchasing an additional 81 shares during the period. Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter worth approximately $26,000. Finally, M&R Capital Management Inc. boosted its position in shares of Tesla by 263.2% during the 3rd 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 last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

TSLA opened at $213.65 on Thursday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. 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 business’s fifty day simple moving average is $228.54 and its 200-day simple moving average is $206.41. The company has a market capitalization of $682.53 billion, a price-to-earnings ratio of 60.01, a PEG ratio of 6.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) 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 firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the company posted $0.78 EPS. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. Robert W. Baird reiterated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research report on Wednesday. HSBC reiterated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Guggenheim increased their target price on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Finally, Piper Sandler increased their target price on Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Eight equities 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. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $211.63.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s 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 sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is owned by corporate insiders.

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.