Tesla, Inc. (NASDAQ:TSLA) Position Lowered by Syntegra Private Wealth Group LLC

Syntegra Private Wealth Group LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,633 shares of the electric vehicle producer’s stock after selling 93 shares during the period. Syntegra Private Wealth Group LLC’s holdings in Tesla were worth $427,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Bank & Trust Co acquired a new stake in Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC raised its stake in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Clean Yield Group raised its stake in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Finally, M&R Capital Management Inc. increased its stake in shares of Tesla by 263.2% in the third 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.

Analyst Ratings Changes

Several brokerages have commented on TSLA. The Goldman Sachs Group restated a “neutral” rating and issued a $230.00 price target on shares of Tesla in a research note on Friday, October 11th. Royal Bank of Canada raised their price target on shares of Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Guggenheim raised their price target on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Wells Fargo & Company restated an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research note on Monday, July 1st. Finally, Citigroup lowered their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $211.63.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 in the last quarter. 25.10% of the stock is currently owned by corporate insiders.

Tesla Stock Down 0.9 %

TSLA stock traded down $1.90 during midday trading on Wednesday, reaching $216.07. The company had a trading volume of 12,054,146 shares, compared to its average volume of 93,486,125. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $689.09 billion, a P/E ratio of 55.60, a PEG ratio of 6.31 and a beta of 2.29. The company has a 50 day moving average of $228.30 and a two-hundred day moving average of $206.36.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts expect that Tesla, Inc. will post 1.75 earnings per share 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.