Voya Financial Advisors Inc. Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Voya Financial Advisors Inc. reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 9.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,638 shares of the electric vehicle producer’s stock after selling 278 shares during the period. Voya Financial Advisors Inc.’s holdings in Tesla were worth $687,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC purchased a new position in Tesla in the third quarter worth about $29,000. Clean Yield Group raised its holdings in Tesla by 60.0% in 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 last quarter. Abich Financial Wealth Management LLC lifted its position in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter valued at $26,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Tesla in the 3rd quarter worth $35,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 3.73 % 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, CFO Vaibhav Taneja sold 7,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $354.43, for a total value of $2,481,010.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $37,226,491.76. The trade was a 6.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 520,280 shares of company stock worth $170,418,640 over the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $389.22 on Friday. 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 $389.49. The business has a 50-day moving average price of $282.96 and a 200 day moving average price of $236.89. The company has a market capitalization of $1.25 trillion, a P/E ratio of 106.64, a PEG ratio of 11.62 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the firm earned $0.53 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TSLA shares. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. Guggenheim increased their target price on Tesla from $156.00 to $175.00 and gave the company a “sell” rating in a report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $245.84.

About Tesla

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.