Tesla, Inc. (NASDAQ:TSLA) Stake Cut by My Legacy Advisors LLC

My Legacy Advisors LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.8% during the third quarter, Holdings Channel reports. The firm owned 3,661 shares of the electric vehicle producer’s stock after selling 1,018 shares during the quarter. My Legacy Advisors LLC’s holdings in Tesla were worth $958,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after acquiring an additional 206,248 shares during the last quarter. Morse Asset Management Inc increased its stake in shares of Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after purchasing an additional 3,462 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Tesla by 12.9% during the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after buying an additional 27,130 shares during the last quarter. Entropy Technologies LP bought a new position in Tesla in the 1st quarter worth approximately $1,941,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Tesla in the 1st quarter valued at approximately $79,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TSLA shares. Glj Research restated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Thursday, October 17th. Jefferies Financial Group raised their price objective on shares of Tesla from $165.00 to $195.00 and gave the company a “hold” rating in a research note on Monday. Royal Bank of Canada increased their price target on Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Citigroup cut their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $211.63.

Tesla Price Performance

TSLA stock traded down $2.22 during trading on Tuesday, reaching $216.63. 30,300,683 shares of the company were exchanged, compared to its average volume of 93,816,219. The company has a market capitalization of $690.88 billion, a price-to-earnings ratio of 55.25, a P/E/G ratio of 6.31 and a beta of 2.29. 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 company has a 50-day moving average of $228.09 and a two-hundred day moving average of $205.99. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company 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% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the 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 sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 in the last 90 days. Corporate insiders own 25.10% of the company’s stock.

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.