Hobbs Group Advisors LLC Sells 118 Shares of Tesla, Inc. (NASDAQ:TSLA)

Hobbs Group Advisors LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,419 shares of the electric vehicle producer’s stock after selling 118 shares during the period. Hobbs Group Advisors LLC’s holdings in Tesla were worth $371,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Fortem Financial Group LLC raised its stake in shares of Tesla by 8.3% in the third quarter. Fortem Financial Group LLC now owns 23,058 shares of the electric vehicle producer’s stock valued at $6,033,000 after acquiring an additional 1,766 shares during the period. Arete Wealth Advisors LLC bought a new stake in Tesla in the third quarter worth about $4,084,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Tesla by 2.7% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 349,008 shares of the electric vehicle producer’s stock valued at $91,310,000 after buying an additional 9,284 shares during the period. Toronto Dominion Bank boosted its position in shares of Tesla by 52.5% during the third quarter. Toronto Dominion Bank now owns 1,691,928 shares of the electric vehicle producer’s stock valued at $442,659,000 after buying an additional 582,738 shares during the period. Finally, Continental Investors Services Inc. boosted its position in shares of Tesla by 0.4% during the third quarter. Continental Investors Services Inc. now owns 11,295 shares of the electric vehicle producer’s stock valued at $2,914,000 after buying an additional 49 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA opened at $400.99 on Wednesday. The firm has a market capitalization of $1.29 trillion, a PE ratio of 109.86, a price-to-earnings-growth ratio of 12.64 and a beta of 2.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $409.73. The company’s fifty day moving average price is $288.09 and its 200-day moving average price is $240.67.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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. The firm 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%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $374.21, for a total value of $975,191.26. Following the sale, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $40,775,792.65. This represents a 2.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 522,886 shares of company stock valued at $171,393,831 over the last ninety days. 20.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TSLA shares. Royal Bank of Canada boosted their target price on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. UBS Group boosted their target price on Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research report on Monday, November 25th. Cantor Fitzgerald lifted their price target on shares of Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $254.48.

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.