WealthPLAN Partners LLC Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

WealthPLAN Partners LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 17.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,486 shares of the electric vehicle producer’s stock after selling 2,163 shares during the period. WealthPLAN Partners LLC’s holdings in Tesla were worth $2,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter worth approximately $29,000. Bank & Trust Co purchased a new stake in Tesla during the 2nd quarter valued at approximately $25,000. Clean Yield Group lifted its position in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC increased its holdings 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 period. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Tesla during the second quarter worth approximately $26,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 9.0 %

TSLA stock opened at $350.00 on Tuesday. The firm has a market cap of $1.12 trillion, a price-to-earnings ratio of 95.89, a PEG ratio of 10.59 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The firm has a fifty day moving average price of $243.90 and a two-hundred day moving average price of $217.03. 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 (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 1.96 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on TSLA. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research note on Wednesday, July 24th. JPMorgan Chase & Co. boosted their target price on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Barclays raised their price target on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Wednesday, October 23rd. Finally, William Blair began coverage on Tesla in a report on Thursday, August 29th. They issued an “outperform” rating for the company. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $225.06.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,797 shares of company stock valued at $19,211,821. 20.70% of the stock is currently owned by company insiders.

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.