Hohimer Wealth Management LLC Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Hohimer Wealth Management LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,709 shares of the electric vehicle producer’s stock after selling 300 shares during the period. Hohimer Wealth Management LLC’s holdings in Tesla were worth $2,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TSLA. Soltis Investment Advisors LLC raised its holdings in shares of Tesla by 0.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 12,004 shares of the electric vehicle producer’s stock valued at $3,141,000 after purchasing an additional 96 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in Tesla by 6.8% during the third quarter. Rehmann Capital Advisory Group now owns 16,951 shares of the electric vehicle producer’s stock valued at $4,435,000 after buying an additional 1,086 shares during the period. TD Private Client Wealth LLC raised its stake in Tesla by 4.5% in the third quarter. TD Private Client Wealth LLC now owns 11,046 shares of the electric vehicle producer’s stock worth $2,890,000 after buying an additional 475 shares in the last quarter. Fortem Financial Group LLC lifted its holdings in Tesla by 8.3% during the third quarter. Fortem Financial Group LLC now owns 23,058 shares of the electric vehicle producer’s stock worth $6,033,000 after buying an additional 1,766 shares during the period. Finally, Arete Wealth Advisors LLC bought a new stake in Tesla during the 3rd quarter valued at $4,084,000. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated 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. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 522,886 shares of company stock valued at $171,393,831. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company raised their price target on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Thursday, October 17th. Truist Financial raised their target price on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $400.00 price target on shares of Tesla in a research report on Monday, November 18th. Nine analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $257.36.

Tesla Price Performance

NASDAQ:TSLA opened at $400.99 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $409.73. The stock’s 50-day moving average price is $288.09 and its 200-day moving average price is $240.67. The stock has a market capitalization of $1.29 trillion, a PE ratio of 109.86, a price-to-earnings-growth ratio of 12.64 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.