Petra Financial Advisors Inc. Acquires New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Petra Financial Advisors Inc. purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,361 shares of the electric vehicle producer’s stock, valued at approximately $356,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Integris Wealth Management LLC grew its holdings in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc grew its holdings in shares of Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares during the last quarter. Echo Wealth Management LLC grew its holdings in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares during the last quarter. WASHINGTON TRUST Co grew its holdings in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after buying an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC grew its holdings in shares of Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after buying an additional 45 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred 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 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,297 shares of company stock valued at $3,065,866. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA traded down $2.39 during trading hours on Thursday, hitting $255.16. 19,249,741 shares of the company’s stock traded hands, compared to its average volume of 94,115,047. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54. The company has a market capitalization of $819.08 billion, a PE ratio of 70.56, a PEG ratio of 7.59 and a beta of 2.29. 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 firm’s 50-day moving average is $232.78 and its 200-day moving average is $209.50.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the company earned $0.53 EPS. Tesla’s revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird reissued an “outperform” rating and set a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $147.00 to $197.00 in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Finally, Argus restated a “buy” rating and set a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $219.45.

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.