Deseret Mutual Benefit Administrators Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Deseret Mutual Benefit Administrators boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 554 shares of the electric vehicle producer’s stock after purchasing an additional 85 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Tesla were worth $145,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bank & Trust Co bought a new position in shares of Tesla during the 2nd quarter valued at approximately $25,000. Clean Yield Group lifted its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla in the second quarter worth $26,000. Finally, M&R Capital Management Inc. raised its position in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the business’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 owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,797 shares of company stock worth $19,211,821 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on TSLA. Argus reaffirmed a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Phillip Securities raised Tesla to a “moderate sell” rating in a research note on Friday, October 25th. Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Thursday, October 17th. Stifel Nicolaus boosted their price target on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $219.45.

Tesla Stock Down 0.1 %

Shares of NASDAQ TSLA opened at $288.32 on Thursday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $289.59. The firm has a market capitalization of $925.52 billion, a price-to-earnings ratio of 79.05, a PEG ratio of 8.01 and a beta of 2.29. The stock has a 50 day moving average price of $237.23 and a 200 day moving average price of $213.07. 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 issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 EPS. Sell-side analysts expect that Tesla, Inc. will post 1.96 earnings per share for the current 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.