Activest Wealth Management Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Activest Wealth Management reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,819 shares of the electric vehicle producer’s stock after selling 1,111 shares during the period. Tesla accounts for about 0.7% of Activest Wealth Management’s holdings, making the stock its 19th biggest position. Activest Wealth Management’s holdings in Tesla were worth $2,307,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in shares of Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP grew its stake in shares of Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after purchasing an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC increased its holdings in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TSLA. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Jefferies Financial Group upped their price target on shares of Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Roth Mkm reissued a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Truist Financial boosted their price objective on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Finally, New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $230.18.

Tesla Stock Performance

Tesla stock traded up $3.83 during mid-day trading on Thursday, reaching $345.86. The company had a trading volume of 5,178,031 shares, compared to its average volume of 95,597,656. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 93.71, a PEG ratio of 11.24 and a beta of 2.29. The company has a 50 day moving average of $259.42 and a 200-day moving average of $224.12.

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