TRUE Private Wealth Advisors Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

TRUE Private Wealth Advisors lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 17.4% during the third quarter, Holdings Channel.com reports. 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter worth $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla in the second quarter valued at $26,000. Abich Financial Wealth Management LLC grew its position in Tesla by 168.8% during the 2nd 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 period. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the 3rd quarter valued at about $29,000. Finally, Clean Yield Group lifted its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 3.7 %

NASDAQ TSLA opened at $345.16 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.93. The business’s fifty day simple moving average is $274.55 and its 200-day simple moving average is $231.81. The firm has a market cap of $1.11 trillion, a PE ratio of 94.56, a P/E/G ratio of 10.81 and a beta of 2.29.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TSLA shares. Wolfe Research started coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Friday, October 11th. Piper Sandler boosted their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. UBS Group raised their price target on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research report on Monday, November 25th. Finally, Royal Bank of Canada upped their price objective on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Nine 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 MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $231.06.

Insider Transactions at Tesla

In other news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on 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 sale, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % 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 worth $92,956,692. 20.70% of the stock is currently owned by company insiders.

Tesla 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.