Freedom Investment Management Inc. Sells 980 Shares of Tesla, Inc. (NASDAQ:TSLA)

Freedom Investment Management Inc. trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 13.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,334 shares of the electric vehicle producer’s stock after selling 980 shares during the quarter. Freedom Investment Management Inc.’s holdings in Tesla were worth $1,657,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the third quarter valued at $29,000. Bank & Trust Co bought a new stake in shares of Tesla in the 2nd quarter valued at about $25,000. Clean Yield Group boosted its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. bought a new stake in Tesla during the 2nd quarter valued at $26,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 301,187 shares of company stock worth $92,956,692 in the last three months. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 1.6 %

Shares of NASDAQ:TSLA opened at $332.89 on Thursday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $361.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market cap of $1.07 trillion, a P/E ratio of 91.20, a P/E/G ratio of 11.00 and a beta of 2.29. The firm has a fifty day moving average price of $270.63 and a 200 day moving average price of $229.89.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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 firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the company posted $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on TSLA shares. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Barclays lifted their target price on shares of Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Nine 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 company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $231.06.

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.