Solidarity Wealth LLC Has $306,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Solidarity Wealth LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 22.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,170 shares of the electric vehicle producer’s stock after selling 334 shares during the period. Solidarity Wealth LLC’s holdings in Tesla were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of TSLA. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares in the last quarter. International Assets Investment Management LLC increased its stake in Tesla by 35,611.2% during the 3rd 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 purchasing an additional 11,023,436 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares during the period. ARK Investment Management LLC lifted its stake in Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after buying an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Tesla by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after buying an additional 412,872 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 0.8 %

Shares of NASDAQ:TSLA opened at $257.55 on Thursday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54. The company has a market capitalization of $826.75 billion, a PE ratio of 70.56, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a fifty day moving average of $232.78 and a 200-day moving average of $209.50.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during 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 business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TSLA. Piper Sandler lifted their price target on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wells Fargo & Company increased their price target on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. William Blair initiated coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Truist Financial upped their price objective on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $219.45.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,297 shares of company stock worth $3,065,866 in the last ninety days. Company insiders own 20.70% of the company’s stock.

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.