Mill Creek Capital Advisors LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Mill Creek Capital Advisors LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,478 shares of the electric vehicle producer’s stock after selling 294 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Tesla were worth $6,666,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TSLA. Oppenheimer & Co. Inc. lifted its holdings in Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock valued at $37,801,000 after purchasing an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management raised its position in shares of Tesla by 109.6% in the third quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after buying an additional 4,929 shares during the last quarter. Savvy Advisors Inc. raised its position in shares of Tesla by 24.2% in the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after buying an additional 1,467 shares during the last quarter. ICICI Prudential Asset Management Co Ltd boosted its position in Tesla by 19.0% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock worth $6,394,000 after acquiring an additional 3,909 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. William Blair started coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. The Goldman Sachs Group lifted their price objective on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Robert W. Baird restated an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Finally, Wells Fargo & Company upped their price objective on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $230.18.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,797 shares of company stock worth $57,616,781 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Up 3.1 %

NASDAQ:TSLA opened at $320.72 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $358.64. The firm has a market cap of $1.03 trillion, a PE ratio of 87.87, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average price of $252.30 and a 200 day moving average price of $220.72.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the business posted $0.53 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 1.99 earnings per share 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.