River Street Advisors LLC Trims Stock Position in Tesla, Inc. (NASDAQ:TSLA)

River Street Advisors LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 3.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,144 shares of the electric vehicle producer’s stock after selling 73 shares during the quarter. River Street Advisors LLC’s holdings in Tesla were worth $561,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC boosted its position in Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after buying an additional 5,875,484 shares during the period. ARK Investment Management LLC increased its holdings in Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after purchasing an additional 135,966 shares during the period. National Pension Service grew its position in shares of Tesla by 15.3% in the 3rd quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer’s stock worth $1,355,939,000 after buying an additional 688,717 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Tesla by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after acquiring an additional 412,872 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA traded up $9.54 during mid-day trading on Friday, reaching $320.72. 114,440,286 shares of the company’s stock traded hands, compared to its average volume of 96,026,047. The business’s 50-day moving average price is $252.30 and its 200-day moving average price is $220.46. The stock has a market capitalization of $1.03 trillion, a P/E ratio of 87.87, a price-to-earnings-growth ratio of 10.73 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock valued at $57,616,781 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TSLA. Truist Financial raised their price objective on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. HSBC reaffirmed a “reduce” rating and set a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Wells Fargo & Company boosted their price objective on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Finally, Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $230.18.

Tesla 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.