Altus Wealth Management LLC Sells 270 Shares of Tesla, Inc. (NASDAQ:TSLA)

Altus Wealth Management LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,063 shares of the electric vehicle producer’s stock after selling 270 shares during the period. Altus Wealth Management LLC’s holdings in Tesla were worth $278,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TSLA. Sax Wealth Advisors LLC boosted its stake in shares of Tesla by 31.9% in the 3rd quarter. Sax Wealth Advisors LLC now owns 2,569 shares of the electric vehicle producer’s stock valued at $672,000 after purchasing an additional 622 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in Tesla by 818.1% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 762 shares of the electric vehicle producer’s stock valued at $199,000 after buying an additional 679 shares during the last quarter. Onyx Bridge Wealth Group LLC raised its holdings in Tesla by 2.8% in the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 7,705 shares of the electric vehicle producer’s stock valued at $2,016,000 after buying an additional 209 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Tesla by 4.4% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 324,754 shares of the electric vehicle producer’s stock valued at $84,965,000 after buying an additional 13,764 shares during the last quarter. Finally, Bar Harbor Wealth Management bought a new position in Tesla in the 3rd quarter valued at approximately $238,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

NASDAQ TSLA traded up $0.06 on Friday, reaching $220.95. 10,535,813 shares of the company’s stock traded hands, compared to its average volume of 94,174,516. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock has a 50-day simple moving average of $227.25 and a 200 day simple moving average of $204.80. The stock has a market cap of $705.86 billion, a PE ratio of 62.05, a P/E/G ratio of 5.94 and a beta of 2.29.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on TSLA shares. TD Cowen raised their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research note on Wednesday, July 24th. Glj Research reiterated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a research note on Thursday. Canaccord Genuity Group reiterated a “buy” rating and issued a $254.00 price objective on shares of Tesla in a research note on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $210.72.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,661 shares of company stock worth $16,663,291. Insiders own 20.70% of the company’s stock.

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.