Petredis Investment Advisors LLC Buys 1,380 Shares of Tesla, Inc. (NASDAQ:TSLA)

Petredis Investment Advisors LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,056 shares of the electric vehicle producer’s stock after acquiring an additional 1,380 shares during the period. Tesla makes up approximately 1.0% of Petredis Investment Advisors LLC’s portfolio, making the stock its 25th biggest position. Petredis Investment Advisors LLC’s holdings in Tesla were worth $9,433,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bank & Trust Co bought a new position in shares of Tesla in the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC increased its position 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 valued at $26,000 after buying an additional 81 shares in the last quarter. Clean Yield Group increased its position in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. increased its position in Tesla by 263.2% in the 3rd 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 in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on TSLA. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Friday, October 11th. Piper Sandler boosted their target price on Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Glj Research reaffirmed a “sell” rating and issued a $24.86 target price on shares of Tesla in a research report on Thursday, September 26th. William Blair began coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, UBS Group downgraded Tesla from a “neutral” rating to a “sell” rating and lifted their price target for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $210.72.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction 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 $18,696,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction 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 $18,696,600. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. 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 90 days. 25.10% of the stock is currently owned by company insiders.

Tesla Price Performance

Tesla stock opened at $219.57 on Wednesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $226.22 and its 200 day simple moving average is $204.57. The company has a market cap of $700.25 billion, a price-to-earnings ratio of 56.01, a PEG ratio of 6.48 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the company posted $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts forecast 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.