Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $4.42 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 16,959 shares of the electric vehicle producer’s stock after selling 489 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Tesla were worth $4,417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank & Trust Co acquired a new stake in Tesla during the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla during the 2nd quarter valued at approximately $26,000. Abich Financial Wealth Management LLC increased its position in 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 during the period. Clean Yield Group increased its position in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Finally, M&R Capital Management Inc. grew its position in shares of Tesla by 263.2% during the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $1.97 during midday trading on Wednesday, hitting $257.55. 7,642,478 shares of the company’s stock were exchanged, compared to its average volume of 94,264,109. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.54. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a market cap of $826.75 billion, a price-to-earnings ratio of 71.10, a PEG ratio of 7.59 and a beta of 2.29. The business’s fifty day moving average price is $232.09 and its two-hundred day moving average price is $209.16.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping 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 company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Tesla’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value 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. This represents a 0.00 % 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 link. In other news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,297 shares of company stock valued at $3,065,866. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group increased their target price on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and increased their target price for the stock from $147.00 to $197.00 in a report on Friday, July 12th. TD Cowen raised their price objective on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. 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. Finally, New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research note on Wednesday, July 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $219.45.

About Tesla

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.