Audent Global Asset Management LLC Sells 1,525 Shares of Tesla, Inc. (NASDAQ:TSLA)

Audent Global Asset Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 53.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,328 shares of the electric vehicle producer’s stock after selling 1,525 shares during the period. Audent Global Asset Management LLC’s holdings in Tesla were worth $347,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Transcendent Capital Group LLC bought a new position in Tesla during the third quarter valued at about $29,000. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter valued at about $25,000. Clean Yield Group grew its position in shares of Tesla by 60.0% in 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. Abich Financial Wealth Management LLC grew its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Finally, Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the second quarter valued at about $26,000. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TSLA. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and issued a $400.00 price target on shares of Tesla in a research report on Monday, November 18th. Bank of America lifted their target price on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays lifted their target price on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $231.06.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the company’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 completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 301,187 shares of company stock worth $92,956,692. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $345.16 on Monday. 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 company has a 50 day moving average price of $274.55 and a 200 day moving average price of $232.59. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.93. The stock has a market capitalization of $1.11 trillion, a PE ratio of 94.56, a price-to-earnings-growth ratio of 11.21 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the company posted $0.53 EPS. Tesla’s revenue was up 7.8% on a year-over-year basis. Analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

About Tesla

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.