Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 56.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,781 shares of the electric vehicle producer’s stock after selling 4,872 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Tesla were worth $989,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Clean Energy Transition LLP grew its holdings in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. Vanguard Group Inc. increased its holdings in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after acquiring an additional 1,479,378 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after acquiring an additional 1,125,329 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $1.65 during midday trading on Wednesday, reaching $216.32. 18,478,773 shares of the company were exchanged, compared to its average volume of 93,517,469. The stock’s 50-day moving average price is $228.30 and its 200-day moving average price is $206.36. The stock has a market cap of $689.89 billion, a P/E ratio of 55.09, a PEG ratio of 6.31 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 EPS. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 in the last quarter. Insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research report on Monday, October 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $230.00 target price on shares of Tesla in a report on Friday, October 11th. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 target price on shares of Tesla in a report on Monday, July 1st. Finally, TD Cowen raised their price objective on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $211.63.

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.