Birchcreek Wealth Management LLC Takes $277,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Birchcreek Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the third quarter, HoldingsChannel.com reports. The fund bought 1,059 shares of the electric vehicle producer’s stock, valued at approximately $277,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC raised its holdings in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. ARK Investment Management LLC increased its position in shares of Tesla by 2.6% during the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after acquiring an additional 135,966 shares in the last quarter. Finally, National Pension Service increased its position in shares of Tesla by 15.3% during the third quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock worth $1,355,939,000 after acquiring an additional 688,717 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA traded up $8.03 during trading hours on Friday, hitting $319.21. 23,327,239 shares of the stock were exchanged, compared to its average volume of 95,582,430. The stock’s 50-day moving average price is $250.10 and its two-hundred day moving average price is $219.58. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 87.45, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TSLA shares. Guggenheim raised their target price on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th. Bank of America raised their target price on shares of Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their price objective on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Stifel Nicolaus raised their target price on shares of Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a report on Friday, October 25th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $228.24.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $36,761,200. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’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 completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,797 shares of company stock valued at $57,616,781. Corporate insiders own 20.70% of the company’s stock.

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.