Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Investmark Advisory Group LLC

Investmark Advisory Group LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,879 shares of the electric vehicle producer’s stock after selling 437 shares during the period. Investmark Advisory Group LLC’s holdings in Tesla were worth $1,276,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC grew its stake 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 buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter worth $29,000. Clean Yield Group lifted its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in shares of Tesla in the third quarter worth about $35,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent analyst reports. StockNews.com raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Barclays upped their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $380.00 in a research report on Monday. Finally, Stifel Nicolaus raised their target price on shares of Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $243.75.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

Tesla stock opened at $350.77 on Tuesday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.93. The firm’s fifty day moving average price is $274.55 and its 200-day moving average price is $232.59. The stock has a market cap of $1.13 trillion, a P/E ratio of 97.83, a price-to-earnings-growth ratio of 11.21 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

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