Nvwm LLC Trims Holdings in Tesla, Inc. $TSLA

Nvwm LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 93.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 451 shares of the electric vehicle producer’s stock after selling 6,309 shares during the quarter. Nvwm LLC’s holdings in Tesla were worth $143,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in TSLA. Chelsea Counsel Co. boosted its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the period. LGT Financial Advisors LLC acquired a new position in Tesla during the 2nd quarter worth about $29,000. Evergreen Private Wealth LLC boosted its holdings in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares during the period. Graybill Wealth Management LTD. acquired a new position in Tesla in the 1st quarter valued at about $36,000. Finally, Pacific Center for Financial Services increased its stake in Tesla by 44.7% during the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock worth $39,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $429.52 on Friday. The firm has a market capitalization of $1.43 trillion, a PE ratio of 286.35, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The business’s fifty day moving average price is $420.97 and its 200 day moving average price is $354.73. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the firm posted $0.72 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last three months. 19.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TSLA shares. Truist Financial raised their price objective on shares of Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Bank of America boosted their price target on shares of Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. BNP Paribas Exane assumed coverage on Tesla in a research report on Thursday, October 16th. They set an “underperform” rating and a $307.00 price objective on the stock. Benchmark reiterated a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. Finally, Piper Sandler upped their price target on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eleven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $391.08.

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.