Stone Point Wealth LLC Sells 85 Shares of Tesla, Inc. (NASDAQ:TSLA)

Stone Point Wealth LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,270 shares of the electric vehicle producer’s stock after selling 85 shares during the quarter. Stone Point Wealth LLC’s holdings in Tesla were worth $594,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after buying an additional 206,248 shares during the last quarter. Gladstone Institutional Advisory LLC grew its stake in shares of Tesla by 6.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock worth $11,349,000 after buying an additional 2,664 shares during the last quarter. Morse Asset Management Inc grew its stake in shares of Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after buying an additional 3,462 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Tesla by 5.6% during the third quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Tesla by 34.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock worth $1,087,000 after buying an additional 1,059 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSLA has been the topic of a number of research reports. Piper Sandler boosted their target price on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Mizuho lifted their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, Wolfe Research initiated coverage on shares of Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $222.03.

Tesla Trading Up 0.2 %

NASDAQ:TSLA opened at $297.59 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm has a 50-day moving average of $237.23 and a 200-day moving average of $213.07. The company has a market cap of $955.28 billion, a PE ratio of 81.35, a PEG ratio of 9.51 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.75.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the prior year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,797 shares of company stock valued at $19,211,821. 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.