Hennion & Walsh Asset Management Inc. Acquires 1,059 Shares of Tesla, Inc. (NASDAQ:TSLA)

Hennion & Walsh Asset Management Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 34.1% in the third quarter, HoldingsChannel.com reports. The firm owned 4,166 shares of the electric vehicle producer’s stock after purchasing an additional 1,059 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Tesla were worth $1,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank & Trust Co purchased a new position in Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its stake in shares of 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 buying an additional 81 shares during the last quarter. Clean Yield Group grew its holdings in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 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 $269.19 on Monday. The stock’s 50-day simple moving average is $230.53 and its two-hundred day simple moving average is $207.92. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The firm has a market capitalization of $858.50 billion, a P/E ratio of 68.67, a P/E/G ratio of 6.24 and a beta of 2.29. 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 (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the firm posted $0.53 earnings per share. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSLA. Wells Fargo & Company upped their price objective on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday. Argus restated a “buy” rating and set a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Guggenheim lifted their price objective on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research report on Thursday. Stifel Nicolaus increased their target price on shares of Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays lowered their price target on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $219.00.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by 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.