McIlrath & Eck LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

McIlrath & Eck LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,401 shares of the electric vehicle producer’s stock after purchasing an additional 192 shares during the quarter. McIlrath & Eck LLC’s holdings in Tesla were worth $890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC raised its holdings 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 acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Tesla in the 3rd quarter valued at approximately $29,000. Clean Yield Group boosted its stake in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter worth $35,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TSLA. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Morgan Stanley lifted their price target on shares of Tesla from $310.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday. Guggenheim increased their price objective on shares of Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a research report on Thursday, December 5th. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group increased their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Nine analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $257.36.

Tesla Price Performance

TSLA stock opened at $400.99 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company’s fifty day moving average price is $288.09 and its 200-day moving average price is $240.67. Tesla, Inc. has a one year low of $138.80 and a one year high of $409.73. The company has a market capitalization of $1.29 trillion, a PE ratio of 109.86, a price-to-earnings-growth ratio of 12.64 and a beta of 2.36.

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

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total transaction of $35,254,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,903,716. This represents a 94.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $374.21, for a total value of $975,191.26. Following the completion of the transaction, the chief financial officer now owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 522,886 shares of company stock worth $171,393,831. Corporate insiders own 20.70% of the company’s stock.

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.