Focused Wealth Management Inc Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Focused Wealth Management Inc lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 8.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 22,335 shares of the electric vehicle producer’s stock after selling 2,020 shares during the period. Tesla makes up approximately 0.8% of Focused Wealth Management Inc’s portfolio, making the stock its 23rd largest position. Focused Wealth Management Inc’s holdings in Tesla were worth $5,843,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Bank & Trust Co purchased a new stake in shares of Tesla during the second quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla during the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC grew its stake 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 worth $26,000 after acquiring an additional 81 shares during the period. 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 valued at $33,000 after acquiring an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the 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 completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock valued at $19,211,821 in the last quarter. Insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 target price on shares of Tesla in a research note on Wednesday, October 23rd. Wolfe Research initiated coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Jefferies Financial Group increased their price target on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a report on Thursday, October 17th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $219.45.

Tesla Trading Up 3.5 %

NASDAQ:TSLA opened at $251.44 on Wednesday. The company has a market cap of $807.14 billion, a PE ratio of 68.89, a P/E/G ratio of 8.01 and a beta of 2.29. The business’s 50 day moving average is $235.57 and its two-hundred day moving average is $212.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.53 earnings per share. On average, analysts predict 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.