Fifth Third Wealth Advisors LLC Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Fifth Third Wealth Advisors LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,175 shares of the electric vehicle producer’s stock after acquiring an additional 2,991 shares during the quarter. Tesla comprises approximately 0.6% of Fifth Third Wealth Advisors LLC’s portfolio, making the stock its 25th biggest position. Fifth Third Wealth Advisors LLC’s holdings in Tesla were worth $9,726,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in shares of 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 last quarter. Swiss National Bank boosted its holdings in shares of Tesla by 0.4% during the 3rd quarter. Swiss National Bank now owns 8,519,675 shares of the electric vehicle producer’s stock valued at $2,229,003,000 after acquiring an additional 33,100 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC boosted its holdings in Tesla by 2.6% in 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 purchasing an additional 135,966 shares during the last quarter. Finally, National Pension Service grew its position in Tesla by 15.3% in the 3rd quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock worth $1,355,939,000 after purchasing an additional 688,717 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a report on Wednesday, July 24th. Barclays raised their target price on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Truist Financial upped their price target on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Bank of America increased their target price on shares of Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $230.18.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is currently owned by insiders.

Tesla Stock Up 5.6 %

Shares of NASDAQ TSLA opened at $338.74 on Tuesday. The stock has a 50 day moving average price of $254.75 and a 200 day moving average price of $222.13. The firm has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 92.81, a PEG ratio of 10.42 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64. 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 (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 EPS. Sell-side analysts expect that Tesla, Inc. will post 1.99 earnings per share 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.