Tesla, Inc. (NASDAQ:TSLA) Shares Sold by 1776 Wealth LLC

1776 Wealth LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,448 shares of the electric vehicle producer’s stock after selling 117 shares during the quarter. Tesla comprises about 1.9% of 1776 Wealth LLC’s investment portfolio, making the stock its 9th biggest holding. 1776 Wealth LLC’s holdings in Tesla were worth $4,303,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Connable Office Inc. raised its holdings in Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after buying an additional 38 shares during the period. Integris Wealth Management LLC boosted its stake in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc grew its position in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares in the last quarter. Echo Wealth Management LLC lifted its holdings in shares of Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after purchasing an additional 44 shares in the last quarter. Finally, Essex Savings Bank boosted its position in shares of Tesla by 1.4% in the third quarter. Essex Savings Bank now owns 3,128 shares of the electric vehicle producer’s stock worth $818,000 after buying an additional 44 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock traded up $9.54 during mid-day trading on Friday, reaching $320.72. The company’s stock had a trading volume of 114,440,286 shares, compared to its average volume of 96,026,047. 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’s 50-day moving average is $252.30 and its two-hundred day moving average is $220.46. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The company has a market cap of $1.03 trillion, a P/E ratio of 87.87, a PEG ratio of 10.73 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 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 firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on 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 owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,797 shares of company stock worth $57,616,781 over the last three months. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research report on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Wolfe Research initiated coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $230.18.

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.