Adamsbrown Wealth Consultants LLC Has $272,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Adamsbrown Wealth Consultants LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,038 shares of the electric vehicle producer’s stock after selling 80 shares during the period. Adamsbrown Wealth Consultants LLC’s holdings in Tesla were worth $272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TSLA. Beacon Financial Group acquired a new position in shares of Tesla in the 4th quarter valued at about $227,000. Scarborough Advisors LLC increased its stake in Tesla by 9.7% in the 4th quarter. Scarborough Advisors LLC now owns 1,604 shares of the electric vehicle producer’s stock valued at $399,000 after buying an additional 142 shares during the period. A.P. Gilfoyle & Co. L.P. purchased a new stake in Tesla in the 4th quarter worth approximately $50,000. Vima LLC acquired a new stake in shares of Tesla during the 4th quarter valued at $108,000. Finally, Fortis Group Advisors LLC grew its holdings in shares of Tesla by 28.6% during the 4th quarter. Fortis Group Advisors LLC now owns 3,384 shares of the electric vehicle producer’s stock valued at $841,000 after acquiring an additional 753 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TSLA. Citigroup cut their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Mizuho lifted their target price on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Roth Mkm reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research note on Friday. Robert W. Baird reissued an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $310.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $210.72.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 over the last ninety days. Corporate insiders own 25.10% of the company’s stock.

Tesla Price Performance

TSLA stock traded up $1.03 during trading on Monday, hitting $218.83. The company had a trading volume of 20,102,895 shares, compared to its average volume of 94,862,883. The company has a fifty day moving average price of $225.43 and a two-hundred day moving average price of $203.96. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a market cap of $697.89 billion, a P/E ratio of 55.56, a P/E/G ratio of 6.48 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

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