Cobblestone Capital Advisors LLC NY Makes New $246,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Cobblestone Capital Advisors LLC NY acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 941 shares of the electric vehicle producer’s stock, valued at approximately $246,000.

Other large investors have also made changes to their positions in the company. Tradition Wealth Management LLC raised its position in Tesla by 17.4% during the third quarter. Tradition Wealth Management LLC now owns 7,490 shares of the electric vehicle producer’s stock worth $1,960,000 after acquiring an additional 1,108 shares during the period. Kitching Partners LLC purchased a new stake in shares of Tesla during the third quarter worth about $201,000. Widmann Financial Services Inc. acquired a new position in shares of Tesla during the 3rd quarter worth about $4,649,000. Encompass More Asset Management lifted its stake in Tesla by 479.0% in the 3rd quarter. Encompass More Asset Management now owns 9,641 shares of the electric vehicle producer’s stock valued at $2,522,000 after buying an additional 7,976 shares in the last quarter. Finally, L.M. Kohn & Company boosted its holdings in Tesla by 8.8% in the 3rd quarter. L.M. Kohn & Company now owns 5,298 shares of the electric vehicle producer’s stock worth $1,386,000 after buying an additional 427 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Royal Bank of Canada raised their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. The Goldman Sachs Group lifted their target price 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. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Wednesday, October 23rd. Finally, Glj Research reissued a “sell” rating and issued a $24.86 target price on shares of Tesla in a research note on Thursday, October 17th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $231.06.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $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. Insiders sold 301,187 shares of company stock worth $92,956,692 over the last 90 days. 20.70% of the stock is owned by insiders.

Tesla Stock Up 3.7 %

Shares of NASDAQ TSLA opened at $345.16 on Monday. The stock has a market cap of $1.11 trillion, a P/E ratio of 94.56, a PEG ratio of 11.21 and a beta of 2.29. The business’s fifty day simple moving average is $274.55 and its 200-day simple moving average is $232.59. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $361.93. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

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, beating 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 last year, the company earned $0.53 EPS. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.