Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 9.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,292 shares of the electric vehicle producer’s stock after selling 443 shares during the period. Gateway Wealth Partners LLC’s holdings in Tesla were worth $1,123,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TSLA. International Assets Investment Management LLC lifted its position in Tesla by 35,611.2% in the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Clean Energy Transition LLP lifted its position in Tesla by 347.7% in the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after purchasing an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC lifted its position in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. Vanguard Group Inc. lifted its position in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Tesla by 236.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after purchasing an additional 1,479,378 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 2.5 %

Shares of NASDAQ:TSLA opened at $262.51 on Tuesday. The stock has a market capitalization of $842.67 billion, a PE ratio of 71.92, a P/E/G ratio of 7.59 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $273.54. The firm has a fifty day moving average price of $231.33 and a 200 day moving average price of $208.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $25.47 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TSLA shares. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. TD Cowen increased their price objective on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $219.00.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,297 shares of company stock valued at $3,065,866 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

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.