Tesla Inc (TSLA) Shares Sold by Cetera Investment Advisers
Cetera Investment Advisers cut its holdings in Tesla Inc (NASDAQ:TSLA) by 83.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 679 shares of the electric vehicle producer’s stock after selling 3,462 shares during the quarter. Cetera Investment Advisers’ holdings in Tesla were worth $230,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Cetera Advisors LLC boosted its position in Tesla by 6.2% during the 3rd quarter. Cetera Advisors LLC now owns 4,399 shares of the electric vehicle producer’s stock worth $1,502,000 after acquiring an additional 258 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in Tesla during the 3rd quarter worth approximately $1,254,000. Independent Advisor Alliance boosted its position in Tesla by 31.7% during the 3rd quarter. Independent Advisor Alliance now owns 901 shares of the electric vehicle producer’s stock worth $309,000 after acquiring an additional 217 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Tesla during the 3rd quarter worth approximately $100,000. Finally, Parallel Advisors LLC boosted its position in Tesla by 12.7% during the 3rd quarter. Parallel Advisors LLC now owns 1,438 shares of the electric vehicle producer’s stock worth $454,000 after acquiring an additional 162 shares during the last quarter. Institutional investors and hedge funds own 57.20% of the company’s stock.
In related news, VP John Douglas Field sold 600 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $301.60, for a total value of $180,960.00. Following the sale, the vice president now owns 21,424 shares in the company, valued at approximately $6,461,478.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $341.69, for a total value of $748,301.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,417 shares of company stock worth $3,694,761. 23.10% of the stock is owned by company insiders.
Shares of Tesla Inc (NASDAQ TSLA) opened at $337.89 on Friday. Tesla Inc has a 12 month low of $197.39 and a 12 month high of $389.61. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66.
Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.09) by $0.17. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the business posted $0.71 EPS. The business’s revenue was up 29.9% compared to the same quarter last year. research analysts anticipate that Tesla Inc will post -11.38 earnings per share for the current year.
A number of research firms have weighed in on TSLA. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the stock a “neutral” rating in a research report on Wednesday, September 20th. Jefferies Group began coverage on Tesla in a research report on Tuesday, September 19th. They set an “underperform” rating and a $280.00 price target for the company. They noted that the move was a valuation call. Instinet began coverage on Tesla in a research report on Wednesday, October 4th. They set a “buy” rating and a $500.00 price target for the company. Vetr raised Tesla from a “strong sell” rating to a “sell” rating and set a $308.16 price target for the company in a research report on Tuesday, October 3rd. Finally, Nomura began coverage on Tesla in a research report on Wednesday, October 4th. They set a “buy” rating and a $500.00 price target for the company. Thirteen investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Tesla currently has an average rating of “Hold” and an average target price of $331.04.
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Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.
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