Tesla, Inc. $TSLA Shares Sold by Quantum Private Wealth LLC

Quantum Private Wealth LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 43.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 997 shares of the electric vehicle producer’s stock after selling 768 shares during the quarter. Quantum Private Wealth LLC’s holdings in Tesla were worth $317,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Chelsea Counsel Co. boosted its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in Tesla during the second quarter worth approximately $29,000. Evergreen Private Wealth LLC lifted its position in shares of Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares during the last quarter. Glynn Capital Management LLC acquired a new position in shares of Tesla in the 2nd quarter valued at $35,000. Finally, LSV Asset Management boosted its holdings in shares of Tesla by 400.0% in the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research analyst reports. Dbs Bank upgraded shares of Tesla to a “hold” rating in a research note on Wednesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $500.00 target price on shares of Tesla in a research report on Thursday, October 23rd. China Renaissance lifted their price target on Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a research report on Friday, October 24th. Finally, Truist Financial boosted their price objective on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $394.31.

Tesla Stock Down 1.0%

TSLA opened at $391.09 on Friday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The business has a 50 day moving average price of $433.55 and a two-hundred day moving average price of $364.93. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.30 trillion, a PE ratio of 260.73, a P/E/G ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating 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 company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period last year, the business posted $0.72 EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS 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.