Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Professional Financial Advisors LLC

Professional Financial Advisors LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,832 shares of the electric vehicle producer’s stock after selling 239 shares during the period. Professional Financial Advisors LLC’s holdings in Tesla were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Integris Wealth Management LLC lifted its stake in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc lifted its position in shares of Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after acquiring an additional 43 shares in the last quarter. Echo Wealth Management LLC lifted its position in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after acquiring an additional 44 shares in the last quarter. WASHINGTON TRUST Co lifted its position in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC lifted its position in shares of Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after acquiring an additional 45 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on TSLA shares. Citigroup reduced their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and upped their price target for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Wells Fargo & Company restated an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Thursday, September 26th. Finally, Guggenheim upped their price objective on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $210.72.

Tesla Price Performance

Shares of Tesla stock opened at $217.80 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The firm has a fifty day moving average price of $225.43 and a two-hundred day moving average price of $203.79. The company has a market cap of $695.79 billion, a PE ratio of 61.18, a price-to-earnings-growth ratio of 6.48 and a beta of 2.29.

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

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’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 completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’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 completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’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 transaction, 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 a total of 74,661 shares of company stock valued at $16,663,291 in the last ninety days. Company insiders own 20.70% of the company’s stock.

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.