FLC Capital Advisors Has $774,000 Position in Tesla, Inc. (NASDAQ:TSLA)

FLC Capital Advisors cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 16.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,959 shares of the electric vehicle producer’s stock after selling 592 shares during the quarter. FLC Capital Advisors’ holdings in Tesla were worth $774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares during the last quarter. Morse Asset Management Inc boosted its position in Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after buying an additional 3,462 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Tesla by 12.9% during the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after acquiring an additional 27,130 shares during the last quarter. Entropy Technologies LP acquired a new position in shares of Tesla during the first quarter valued at $1,941,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Tesla in the first quarter worth about $79,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Guggenheim raised their target price 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. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. TD Cowen raised their price target on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. KGI Securities reissued a “neutral” rating and issued a $236.00 target price on shares of Tesla in a research note on Thursday, July 25th. Finally, Piper Sandler boosted their target price on Tesla from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $210.72.

Tesla Stock Up 0.8 %

TSLA stock opened at $221.33 on Thursday. The company has a market cap of $707.07 billion, a price-to-earnings ratio of 62.17, a P/E/G ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The business has a 50 day moving average price of $226.81 and a two-hundred day moving average price of $204.69. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the prior year, the business posted $0.78 earnings per share. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,661 shares of company stock valued at $16,663,291. 20.70% of the stock is owned by company insiders.

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.