Thrive Wealth Management LLC Sells 110 Shares of Tesla, Inc. $TSLA

Thrive Wealth Management LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,936 shares of the electric vehicle producer’s stock after selling 110 shares during the period. Thrive Wealth Management LLC’s holdings in Tesla were worth $1,568,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Brighton Jones LLC increased its holdings in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in Tesla in the fourth quarter worth approximately $346,000. Highview Capital Management LLC DE bought a new position in Tesla in the fourth quarter worth approximately $2,367,000. Finally, Bison Wealth LLC boosted its holdings in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was 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 of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,606 shares of company stock worth $51,999,662. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TSLA shares. Morgan Stanley reiterated an “overweight” rating and set a $410.00 price target on shares of Tesla in a report on Friday, September 5th. Canaccord Genuity Group boosted their price objective on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Mizuho reduced their target price on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Stifel Nicolaus set a $440.00 target price on Tesla in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $303.00.

Tesla Stock Up 2.8%

TSLA stock opened at $421.62 on Wednesday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The business’s 50-day moving average is $333.69 and its two-hundred day moving average is $305.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market cap of $1.36 trillion, a price-to-earnings ratio of 243.71, a P/E/G ratio of 14.30 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current 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.