Chaney Capital Management Inc. decreased its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 11.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,762 shares of the electric vehicle producer’s stock after selling 365 shares during the quarter. Tesla accounts for 0.4% of Chaney Capital Management Inc.’s portfolio, making the stock its 21st largest position. Chaney Capital Management Inc.’s holdings in Tesla were worth $723,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Integris Wealth Management LLC boosted its stake in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc lifted its holdings in Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares in the last quarter. Echo Wealth Management LLC boosted its stake in Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the period. WASHINGTON TRUST Co raised its position in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after buying an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC lifted its holdings in shares of Tesla by 1.6% in the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after buying an additional 45 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.
Tesla Stock Performance
Shares of Tesla stock opened at $243.88 on Monday. The stock’s fifty day moving average is $234.14 and its two-hundred day moving average is $211.15. The company has a market capitalization of $782.87 billion, a PE ratio of 68.21, a price-to-earnings-growth ratio of 8.24 and a beta of 2.29. 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 $273.54.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on TSLA shares. Bank of America raised their target price on shares of Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Truist Financial raised their price target on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. Finally, KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $219.45.
Check Out Our Latest Stock Analysis on Tesla
Insider Transactions at Tesla
In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,297 shares of company stock valued at $3,065,866. 20.70% of the stock is currently owned by corporate insiders.
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.
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