B. Riley Wealth Advisors Inc. Has $17.92 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

B. Riley Wealth Advisors Inc. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,896 shares of the electric vehicle producer’s stock after selling 5,649 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Tesla were worth $17,924,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in Tesla during the 3rd quarter worth $29,000. Clean Yield Group increased its stake in shares of Tesla by 60.0% in the third 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 period. Abich Financial Wealth Management LLC raised its holdings in 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 buying an additional 81 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in Tesla in the 2nd quarter valued at approximately $26,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Tesla during the third quarter valued at $35,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft raised their price objective on Tesla from $295.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price target on Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $257.36.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $354.06, for a total transaction of $39,792,803.40. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $30,095,100. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 522,886 shares of company stock worth $171,393,831 in the last 90 days. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

TSLA stock opened at $436.23 on Friday. The firm has a 50 day simple moving average of $301.74 and a two-hundred day simple moving average of $246.51. The stock has a market cap of $1.40 trillion, a PE ratio of 119.52, a P/E/G ratio of 10.52 and a beta of 2.36. Tesla, Inc. has a one year low of $138.80 and a one year high of $436.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.