Intellectus Partners LLC Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Intellectus Partners LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,414 shares of the electric vehicle producer’s stock after selling 505 shares during the period. Tesla makes up approximately 4.5% of Intellectus Partners LLC’s investment portfolio, making the stock its largest position. Intellectus Partners LLC’s holdings in Tesla were worth $17,638,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Integris Wealth Management LLC increased its position in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc grew its stake in Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares in the last quarter. Echo Wealth Management LLC increased its holdings in Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares during the period. Essex Savings Bank lifted its holdings in shares of Tesla by 1.4% during the 3rd quarter. Essex Savings Bank now owns 3,128 shares of the electric vehicle producer’s stock worth $818,000 after acquiring an additional 44 shares during the period. Finally, WASHINGTON TRUST Co boosted its position in shares of Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after acquiring an additional 45 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,797 shares of company stock valued at $57,616,781. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 5.8 %

Shares of NASDAQ:TSLA opened at $311.18 on Friday. The business’s 50 day moving average is $248.48 and its 200 day moving average is $218.94. 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 12-month low of $138.80 and a 12-month high of $358.64. The stock has a market cap of $998.91 billion, a price-to-earnings ratio of 85.25, a PEG ratio of 10.73 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on TSLA shares. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday. HSBC restated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Piper Sandler lifted their target price on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Royal Bank of Canada increased their target price on shares of Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $228.24.

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.