Abacus Wealth Partners LLC Has $847,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Abacus Wealth Partners LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,236 shares of the electric vehicle producer’s stock after purchasing an additional 167 shares during the period. Abacus Wealth Partners LLC’s holdings in Tesla were worth $847,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Bank & Trust Co acquired a new position in Tesla during the second quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the second quarter worth $26,000. Abich Financial Wealth Management LLC grew its holdings in shares of Tesla by 168.8% during the second 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 last quarter. M&R Capital Management Inc. raised its holdings in shares of Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new stake in Tesla during the 4th quarter worth about $37,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock valued at $16,663,291 in the last ninety days. Insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on TSLA shares. TD Cowen upped their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Thursday, September 26th. William Blair initiated coverage on Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research note on Wednesday, July 24th. Finally, Piper Sandler raised their target price on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $210.54.

Tesla Stock Down 3.4 %

NASDAQ:TSLA opened at $240.66 on Friday. The company has a market cap of $767.51 billion, a price-to-earnings ratio of 61.39, a price-to-earnings-growth ratio of 7.08 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The stock has a fifty day simple moving average of $223.40 and a 200-day simple moving average of $200.86. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced 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). The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share. Analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

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.