Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Signify Wealth

Signify Wealth decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,127 shares of the electric vehicle producer’s stock after selling 1,538 shares during the period. Tesla makes up 4.5% of Signify Wealth’s portfolio, making the stock its 14th biggest position. Signify Wealth’s holdings in Tesla were worth $3,696,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank & Trust Co acquired a new stake in shares of Tesla during the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC increased its stake 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 valued at $26,000 after purchasing an additional 81 shares in the last quarter. Clean Yield Group grew its stake in 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 acquiring an additional 48 shares during the period. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 2.3 %

Shares of NASDAQ:TSLA traded down $5.62 during midday trading on Monday, reaching $243.36. The company had a trading volume of 15,042,730 shares, compared to its average volume of 93,807,398. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market cap of $781.20 billion, a price-to-earnings ratio of 68.21, a price-to-earnings-growth ratio of 8.24 and a beta of 2.29. The company has a fifty day simple moving average of $234.14 and a two-hundred day simple moving average of $211.15.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS 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 company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the business posted $0.53 EPS. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,297 shares of company stock worth $3,065,866 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Guggenheim increased their target price on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Phillip Securities raised shares of Tesla to a “moderate sell” rating in a research note on Friday, October 25th. Finally, Argus reaffirmed a “buy” rating and set a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $219.45.

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.