Elite Wealth Management Inc. Buys 178 Shares of Tesla, Inc. (NASDAQ:TSLA)

Elite Wealth Management Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.9% during the third quarter, HoldingsChannel.com reports. The fund owned 3,809 shares of the electric vehicle producer’s stock after purchasing an additional 178 shares during the quarter. Tesla comprises approximately 0.1% of Elite Wealth Management Inc.’s holdings, making the stock its 24th biggest position. Elite Wealth Management Inc.’s holdings in Tesla were worth $997,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of TSLA. EMC Capital Management raised its stake in Tesla by 200.0% during the first quarter. EMC Capital Management now owns 1,500 shares of the electric vehicle producer’s stock valued at $249,000 after purchasing an additional 1,000 shares in the last quarter. Strategic Wealth Partners Ltd. raised its position in shares of Tesla by 33.9% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 6,227 shares of the electric vehicle producer’s stock valued at $1,095,000 after buying an additional 1,575 shares in the last quarter. Independent Wealth Network Inc. lifted its holdings in shares of Tesla by 6.8% in the 1st quarter. Independent Wealth Network Inc. now owns 1,413 shares of the electric vehicle producer’s stock valued at $248,000 after acquiring an additional 90 shares during the last quarter. LRI Investments LLC purchased a new position in Tesla in the first quarter worth about $100,000. Finally, Sanibel Captiva Trust Company Inc. increased its stake in Tesla by 186.8% during the first quarter. Sanibel Captiva Trust Company Inc. now owns 20,282 shares of the electric vehicle producer’s stock worth $3,565,000 after acquiring an additional 13,209 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and issued a $400.00 target price on shares of Tesla in a report on Monday, November 18th. Barclays boosted their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, Canaccord Genuity Group boosted their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $231.06.

Tesla Stock Down 1.6 %

NASDAQ:TSLA opened at $332.89 on Thursday. The company’s 50-day simple moving average is $270.63 and its 200-day simple moving average is $229.89. 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 fifty-two week low of $138.80 and a fifty-two week high of $361.93. The stock has a market capitalization of $1.07 trillion, a P/E ratio of 91.20, a P/E/G ratio of 11.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock worth $92,956,692 in the last ninety days. 20.70% of the stock is owned by insiders.

About Tesla

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.