Trinity Financial Advisors LLC Purchases New Stake in Tesla, Inc. (NASDAQ:TSLA)

Trinity Financial Advisors LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 3rd quarter, HoldingsChannel reports. The fund bought 1,019 shares of the electric vehicle producer’s stock, valued at approximately $253,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Farmers Trust Co. bought a new position in shares of Tesla in the 3rd quarter valued at $295,000. Unique Wealth LLC grew its position in Tesla by 4.1% in the third quarter. Unique Wealth LLC now owns 2,111 shares of the electric vehicle producer’s stock valued at $552,000 after acquiring an additional 84 shares during the last quarter. Curbstone Financial Management Corp acquired a new position in Tesla during the third quarter worth about $470,000. Czech National Bank boosted its stake in shares of Tesla by 6.9% in the 3rd quarter. Czech National Bank now owns 565,270 shares of the electric vehicle producer’s stock valued at $147,892,000 after purchasing an additional 36,544 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its stake in shares of Tesla by 1,179.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 4,339 shares of the electric vehicle producer’s stock valued at $1,135,000 after purchasing an additional 4,000 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of TSLA opened at $240.66 on Friday. The stock has a market cap of $767.51 billion, a P/E ratio of 61.39, a P/E/G ratio of 7.08 and a beta of 2.29. The business’s fifty day moving average is $223.40 and its 200 day moving average is $200.86. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $26,258,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,661 shares of company stock valued at $16,663,291. Corporate insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TSLA shares. Mizuho increased their price objective on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Canaccord Genuity Group reiterated a “buy” rating and issued a $254.00 price target on shares of Tesla in a research note on Friday, September 13th. Citigroup lowered their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Stifel Nicolaus began coverage on Tesla in a research note on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target on the stock. Finally, China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research note on Friday, July 5th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $210.54.

Tesla 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.