Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Fonville Wealth Management LLC

Fonville Wealth Management LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 25.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,223 shares of the electric vehicle producer’s stock after selling 428 shares during the period. Fonville Wealth Management LLC’s holdings in Tesla were worth $320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bank & Trust Co purchased a new stake in shares of Tesla in the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla in the 2nd quarter valued at approximately $26,000. Abich Financial Wealth Management LLC increased its position in shares of Tesla by 168.8% in 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 last quarter. Clean Yield Group increased its position in shares of 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 purchasing an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. increased its position in shares of 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 purchasing an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

NASDAQ:TSLA traded up $3.30 during mid-day trading on Friday, hitting $253.15. 21,840,711 shares of the company’s stock traded hands, compared to its average volume of 94,010,516. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm’s 50 day simple moving average is $233.56 and its 200 day simple moving average is $209.78. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $273.54. The company has a market cap of $812.63 billion, a PE ratio of 69.00, a price-to-earnings-growth ratio of 8.49 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Piper Sandler upped their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company upped their target price on shares of Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a report on Wednesday, July 24th. Finally, Jefferies Financial Group increased their price target on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus target price of $219.45.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on 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 sale, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 12,297 shares of company stock valued at $3,065,866 in the last ninety days. Insiders own 20.70% of the company’s stock.

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.