M Holdings Securities Inc. Has $5.57 Million Position in Tesla, Inc. (NASDAQ:TSLA)

M Holdings Securities Inc. lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 10.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 21,291 shares of the electric vehicle producer’s stock after selling 2,375 shares during the period. Tesla makes up about 1.4% of M Holdings Securities Inc.’s holdings, making the stock its 18th largest position. M Holdings Securities Inc.’s holdings in Tesla were worth $5,570,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cerity Partners LLC grew its stake in Tesla by 29.8% in the 3rd quarter. Cerity Partners LLC now owns 388,135 shares of the electric vehicle producer’s stock valued at $101,548,000 after purchasing an additional 89,152 shares during the period. Optivise Advisory Services LLC bought a new position in Tesla in the 3rd quarter worth approximately $540,000. Nicolet Advisory Services LLC raised its stake in shares of Tesla by 3.3% during the 3rd quarter. Nicolet Advisory Services LLC now owns 9,044 shares of the electric vehicle producer’s stock valued at $2,177,000 after purchasing an additional 286 shares during the period. Leelyn Smith LLC boosted its holdings in Tesla by 0.9% in the 3rd quarter. Leelyn Smith LLC now owns 11,074 shares of the electric vehicle producer’s stock valued at $2,897,000 after purchasing an additional 94 shares during the period. Finally, GenTrust LLC increased its position in shares of Tesla by 30.2% in the third quarter. GenTrust LLC now owns 24,459 shares of the electric vehicle producer’s stock worth $6,399,000 after purchasing an additional 5,670 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Up 3.8 %

Tesla stock opened at $352.56 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $361.53. 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 company’s fifty day moving average price is $264.07 and its two-hundred day moving average price is $226.09. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 96.59, a PEG ratio of 11.03 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, beating 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 business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. On average, analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 7.08 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 301,187 shares of company stock worth $92,956,692. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. The Goldman Sachs Group upped their target price on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Truist Financial increased their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Royal Bank of Canada boosted their target price on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.