Darden Wealth Group Inc Acquires 200 Shares of Tesla, Inc. (NASDAQ:TSLA)

Darden Wealth Group Inc increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,165 shares of the electric vehicle producer’s stock after purchasing an additional 200 shares during the period. Darden Wealth Group Inc’s holdings in Tesla were worth $566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank & Trust Co acquired a new stake in Tesla in the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC lifted 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 in the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter worth $29,000. Finally, Clean Yield Group grew its position in Tesla by 60.0% in 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. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSLA shares. Truist Financial raised their price objective on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Canaccord Genuity Group boosted their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $230.18.

Insider Activity at Tesla

In other 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 completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock valued at $92,956,692 over the last ninety days. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

TSLA opened at $340.17 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market cap of $1.09 trillion, a P/E ratio of 93.20, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29. The business’s fifty day moving average is $261.63 and its 200-day moving average is $224.93. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $358.64.

Tesla (NASDAQ:TSLA) last released 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. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal 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.