Icon Wealth Advisors LLC Sells 2,957 Shares of Tesla, Inc. (NASDAQ:TSLA)

Icon Wealth Advisors LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 45.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,484 shares of the electric vehicle producer’s stock after selling 2,957 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Tesla were worth $912,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Tesla by 0.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after purchasing an additional 331 shares in the last quarter. 1832 Asset Management L.P. raised its position in Tesla by 23.5% during the first quarter. 1832 Asset Management L.P. now owns 8,760 shares of the electric vehicle producer’s stock worth $1,540,000 after acquiring an additional 1,669 shares in the last quarter. Beaird Harris Wealth Management LLC lifted its stake in Tesla by 12.5% in the first quarter. Beaird Harris Wealth Management LLC now owns 1,360 shares of the electric vehicle producer’s stock valued at $239,000 after acquiring an additional 151 shares during the last quarter. Mount Yale Investment Advisors LLC grew its position in shares of Tesla by 9.9% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 14,558 shares of the electric vehicle producer’s stock valued at $2,559,000 after acquiring an additional 1,308 shares during the period. Finally, Wick Capital Partners LLC raised its holdings in shares of Tesla by 4.2% in the 1st quarter. Wick Capital Partners LLC now owns 2,151 shares of the electric vehicle producer’s stock valued at $378,000 after purchasing an additional 86 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. Canaccord Genuity Group boosted their target price on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Argus reaffirmed a “buy” rating and set a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Jefferies Financial Group lifted their price objective on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Finally, Wells Fargo & Company raised their target price on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $230.18.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % 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. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 3.8 %

Shares of TSLA opened at $352.56 on Friday. The stock has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 96.59, a PEG ratio of 11.03 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.53. 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 stock has a fifty day moving average of $264.07 and a 200-day moving average of $226.09.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the firm posted $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, 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.