TRUE Private Wealth Advisors Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

TRUE Private Wealth Advisors decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,440 shares of the electric vehicle producer’s stock after selling 1,360 shares during the period. TRUE Private Wealth Advisors’ holdings in Tesla were worth $1,685,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TSLA. Bank & Trust Co bought a new stake in Tesla in the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the second quarter valued at $26,000. Abich Financial Wealth Management LLC increased its position in 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 during the last quarter. Transcendent Capital Group LLC purchased a new stake in Tesla during the third quarter valued at $29,000. Finally, Clean Yield Group lifted its position in Tesla by 60.0% during 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 during the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. Canaccord Genuity Group upped their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price objective on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. HSBC reiterated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Finally, JPMorgan Chase & Co. raised their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $231.06.

Tesla Trading Up 3.7 %

Shares of NASDAQ TSLA opened at $345.16 on Friday. The stock has a market capitalization of $1.11 trillion, a P/E ratio of 94.56, a price-to-earnings-growth ratio of 10.81 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The business has a fifty day moving average price of $274.55 and a 200 day moving average price of $231.81. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.93.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the business earned $0.53 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Equities research analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla 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 value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 over the last three months. Corporate insiders own 20.70% of the company’s stock.

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.