Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Sigma Planning Corp

Sigma Planning Corp reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,732 shares of the electric vehicle producer’s stock after selling 3,485 shares during the period. Sigma Planning Corp’s holdings in Tesla were worth $10,657,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Tesla by 5.6% in the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock valued at $955,052,000 after acquiring an additional 194,796 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares during the period. Scott & Selber Inc. increased its stake in Tesla by 80.3% in the third quarter. Scott & Selber Inc. now owns 12,659 shares of the electric vehicle producer’s stock valued at $3,312,000 after purchasing an additional 5,639 shares during the last quarter. AIA Group Ltd lifted its position in Tesla by 10.1% during the third quarter. AIA Group Ltd now owns 83,374 shares of the electric vehicle producer’s stock worth $21,813,000 after buying an additional 7,655 shares during the period. Finally, Gladstone Institutional Advisory LLC boosted its stake in Tesla by 6.5% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock worth $11,349,000 after buying an additional 2,664 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $391,164,540.60. This represents 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 accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 76,797 shares of company stock worth $19,211,821 over the last quarter. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Jefferies Financial Group lifted their price target on shares of Tesla from $165.00 to $195.00 and gave the company a “hold” rating in a report on Monday, October 21st. Truist Financial upped their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their price target on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Citigroup cut their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Eight 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $222.03.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $321.22 on Friday. The business has a 50 day simple moving average of $241.18 and a 200-day simple moving average of $214.90. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $328.71. The company has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 88.01, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29. 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 issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 1.96 earnings per share for the current year.

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.