Colonial River Investments LLC Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Colonial River Investments LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 50.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,975 shares of the electric vehicle producer’s stock after selling 6,039 shares during the quarter. Colonial River Investments LLC’s holdings in Tesla were worth $1,563,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. China Universal Asset Management Co. Ltd. increased its position in shares of Tesla by 0.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after acquiring an additional 331 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in Tesla by 7.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 29,391 shares of the electric vehicle producer’s stock valued at $5,167,000 after purchasing an additional 2,159 shares in the last quarter. Verus Capital Partners LLC raised its position in Tesla by 7.6% in the first quarter. Verus Capital Partners LLC now owns 12,480 shares of the electric vehicle producer’s stock valued at $2,194,000 after purchasing an additional 879 shares during the period. Semus Wealth Partners LLC lifted its stake in shares of Tesla by 7.4% during the first quarter. Semus Wealth Partners LLC now owns 16,325 shares of the electric vehicle producer’s stock worth $2,870,000 after purchasing an additional 1,125 shares in the last quarter. Finally, Watershed Private Wealth LLC boosted its position in shares of Tesla by 79.3% in the first quarter. Watershed Private Wealth LLC now owns 8,343 shares of the electric vehicle producer’s stock worth $1,467,000 after buying an additional 3,689 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were 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. 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. In related news, Director Kimbal Musk sold 60,500 shares of Tesla stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,797 shares of company stock worth $19,211,821 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of several analyst reports. Wolfe Research started coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Truist Financial lifted their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $222.03.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $321.22 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $328.71. The company has a market cap of $1.03 trillion, a PE ratio of 88.01, a P/E/G ratio of 10.59 and a beta of 2.29. The stock has a 50 day simple moving average of $241.18 and a 200-day simple moving average of $214.90. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced 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. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, equities research analysts forecast that Tesla, Inc. will post 1.96 EPS for the current year.

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.