Polaris Wealth Advisory Group LLC Has $5.59 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)
Polaris Wealth Advisory Group LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 264.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,334 shares of the electric vehicle producer’s stock after acquiring an additional 16,211 shares during the quarter. Polaris Wealth Advisory Group LLC’s holdings in Tesla were worth $5,588,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in TSLA. Maryland State Retirement & Pension System lifted its stake in shares of Tesla by 3.5% in the 2nd quarter. Maryland State Retirement & Pension System now owns 211,295 shares of the electric vehicle producer’s stock valued at $55,311,000 after purchasing an additional 7,176 shares during the period. Pachira Investments Inc. bought a new position in Tesla during the second quarter worth about $209,000. Sigma Planning Corp grew its stake in Tesla by 10.4% in the second quarter. Sigma Planning Corp now owns 76,219 shares of the electric vehicle producer’s stock valued at $19,952,000 after acquiring an additional 7,154 shares during the period. Deuterium Capital Management LLC bought a new stake in Tesla in the 2nd quarter valued at $1,314,000. Finally, Ulland Investment Advisors LLC raised its stake in shares of Tesla by 72.4% in the 2nd quarter. Ulland Investment Advisors LLC now owns 762 shares of the electric vehicle producer’s stock valued at $199,000 after purchasing an additional 320 shares during the period. Institutional investors and hedge funds own 41.87% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on TSLA shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $293.00 price target on shares of Tesla in a research report on Friday, September 29th. UBS Group lowered their target price on Tesla from $290.00 to $266.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 10th. JPMorgan Chase & Co. increased their price objective on Tesla from $120.00 to $135.00 in a report on Tuesday, October 3rd. Piper Sandler dropped their target price on shares of Tesla from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Monday, October 16th. Finally, Guggenheim boosted their price target on Tesla from $125.00 to $132.00 and gave the stock a “sell” rating in a research report on Friday, December 15th. Eight equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $231.77.
Read Our Latest Stock Analysis on Tesla
Insider Buying and Selling
In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 104,930 shares in the company, valued at $26,232,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 104,930 shares in the company, valued at $26,232,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $210.67, for a total transaction of $2,212,035.00. Following the completion of the transaction, the senior vice president now owns 68,102 shares in the company, valued at approximately $14,347,048.34. The disclosure for this sale can be found here. Insiders have sold a total of 34,222 shares of company stock worth $8,091,898 in the last ninety days. Company insiders own 20.90% of the company’s stock.
Tesla Stock Performance
Shares of Tesla stock opened at $257.22 on Wednesday. The company’s 50 day moving average price is $232.59 and its two-hundred day moving average price is $247.52. The firm has a market capitalization of $817.68 billion, a P/E ratio of 82.71, a P/E/G ratio of 5.09 and a beta of 2.26. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.69 and a quick ratio of 1.18. Tesla, Inc. has a fifty-two week low of $101.81 and a fifty-two week high of $299.29.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings data on Wednesday, October 18th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). Tesla had a return on equity of 21.47% and a net margin of 11.21%. The firm had revenue of $23.35 billion for the quarter, compared to the consensus estimate of $24.19 billion. During the same quarter in the prior year, the firm earned $0.95 EPS. The company’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 2.6 earnings per share for the current fiscal year.
Tesla Company Profile (Free Report)
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.
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