Tesla, Inc. (NASDAQ:TSLA) Holdings Cut by Affiance Financial LLC

Affiance Financial LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,804 shares of the electric vehicle producer’s stock after selling 101 shares during the quarter. Affiance Financial LLC’s holdings in Tesla were worth $995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Bank & Trust Co bought a new position in shares of Tesla during the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Clean Yield Group grew its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. grew its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 8.8 %

Shares of NASDAQ:TSLA opened at $217.80 on Monday. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The company has a 50 day moving average of $225.43 and a 200-day moving average of $203.96. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock has a market cap of $695.79 billion, a price-to-earnings ratio of 61.18, a P/E/G ratio of 6.48 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research analyst reports. Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research report on Friday, July 5th. Stifel Nicolaus initiated coverage on shares of Tesla in a research report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price target on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $254.00 price target on shares of Tesla in a research report on Friday, September 13th. Finally, Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $210.72.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,661 shares of company stock worth $16,663,291. 20.70% of the stock is currently owned by company insiders.

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.