Wescott Financial Advisory Group LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Wescott Financial Advisory Group LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.2% in the third quarter, Holdings Channel reports. The fund owned 2,067 shares of the electric vehicle producer’s stock after purchasing an additional 65 shares during the quarter. Wescott Financial Advisory Group LLC’s holdings in Tesla were worth $541,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Penserra Capital Management LLC lifted its position in shares of Tesla by 4.0% during the third quarter. Penserra Capital Management LLC now owns 19,814 shares of the electric vehicle producer’s stock valued at $5,182,000 after buying an additional 762 shares during the last quarter. StoneX Group Inc. lifted its position in shares of Tesla by 2.8% during the third quarter. StoneX Group Inc. now owns 18,918 shares of the electric vehicle producer’s stock valued at $4,950,000 after buying an additional 523 shares during the last quarter. Lane & Associates LLC purchased a new stake in shares of Tesla during the third quarter valued at about $303,000. Algert Global LLC purchased a new stake in shares of Tesla during the third quarter valued at about $3,194,000. Finally, Canopy Partners LLC lifted its position in shares of Tesla by 2.4% during the third quarter. Canopy Partners LLC now owns 3,666 shares of the electric vehicle producer’s stock valued at $959,000 after buying an additional 85 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $352.56 on Friday. The firm’s 50 day simple moving average is $264.07 and its 200-day simple moving average is $226.43. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $361.53. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 96.59, a PEG ratio of 11.03 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.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) 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 quarter last year, the company earned $0.53 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Bank of America increased their price objective on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $230.18.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is owned by company insiders.

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.