SeaCrest Wealth Management LLC Sells 1,733 Shares of Tesla, Inc. (NASDAQ:TSLA)

SeaCrest Wealth Management LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 8.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 18,358 shares of the electric vehicle producer’s stock after selling 1,733 shares during the period. Tesla comprises approximately 0.5% of SeaCrest Wealth Management LLC’s holdings, making the stock its 27th largest position. SeaCrest Wealth Management LLC’s holdings in Tesla were worth $4,803,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Integris Wealth Management LLC raised its holdings in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its stake in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after buying an additional 43 shares in the last quarter. Echo Wealth Management LLC lifted its holdings in Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after buying an additional 44 shares during the period. WASHINGTON TRUST Co boosted its position in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC increased its holdings in shares of Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 over the last quarter. 25.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TSLA has been the topic of several research analyst reports. Wells Fargo & Company reissued an “underweight” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, July 1st. Guggenheim raised their target price on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. KGI Securities reiterated a “neutral” rating and set a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 price objective on shares of Tesla in a report on Friday, September 13th. Finally, Royal Bank of Canada lifted their target price on Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $210.72.

Tesla Stock Performance

TSLA opened at $221.65 on Wednesday. The firm’s fifty day simple moving average is $226.22 and its two-hundred day simple moving average is $204.57. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a market cap of $706.89 billion, a price-to-earnings ratio of 56.01, a PEG ratio of 6.48 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the company earned $0.78 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. Equities analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal 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.