IVC Wealth Advisors LLC Has $655,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

IVC Wealth Advisors LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 17.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,503 shares of the electric vehicle producer’s stock after selling 518 shares during the quarter. IVC Wealth Advisors LLC’s holdings in Tesla were worth $655,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Panoramic Investment Advisors LLC lifted its stake in shares of Tesla by 184.7% in the 1st quarter. Panoramic Investment Advisors LLC now owns 3,744 shares of the electric vehicle producer’s stock valued at $658,000 after acquiring an additional 2,429 shares during the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in Tesla by 21.5% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 2,377 shares of the electric vehicle producer’s stock worth $418,000 after acquiring an additional 420 shares during the last quarter. Cullinan Associates Inc. increased its position in Tesla by 1.0% in the 1st quarter. Cullinan Associates Inc. now owns 23,831 shares of the electric vehicle producer’s stock valued at $4,189,000 after acquiring an additional 231 shares during the period. Synergy Asset Management LLC increased its holdings in Tesla by 58.1% in the first quarter. Synergy Asset Management LLC now owns 18,284 shares of the electric vehicle producer’s stock valued at $3,214,000 after purchasing an additional 6,718 shares during the period. Finally, State of Michigan Retirement System raised its position in Tesla by 0.3% during the 1st quarter. State of Michigan Retirement System now owns 759,157 shares of the electric vehicle producer’s stock worth $133,452,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

TSLA opened at $269.19 on Monday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The firm has a 50-day moving average of $230.53 and a 200 day moving average of $207.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market cap of $864.12 billion, a P/E ratio of 73.75, a PEG ratio of 7.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the business posted $0.53 EPS. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. 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 available through this link. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla 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 completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Jefferies Financial Group increased their price objective on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Truist Financial boosted their target price on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday. Glj Research restated a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Thursday, October 17th. Finally, Barclays reduced their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $219.00.

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.