Ballentine Partners LLC Has $7.45 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Ballentine Partners LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 5.5% in the third quarter, Holdings Channel.com reports. The firm owned 28,455 shares of the electric vehicle producer’s stock after selling 1,663 shares during the period. Ballentine Partners LLC’s holdings in Tesla were worth $7,445,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Heritage Oak Wealth Advisors LLC bought a new stake in shares of Tesla during the 3rd quarter valued at $930,000. Harbour Trust & Investment Management Co acquired a new stake in shares of Tesla during the third quarter worth $225,000. Nicholson Wealth Management Group LLC bought a new stake in Tesla in the third quarter valued at about $371,000. DT Investment Partners LLC lifted its stake in Tesla by 29.4% in the third quarter. DT Investment Partners LLC now owns 1,505 shares of the electric vehicle producer’s stock valued at $394,000 after buying an additional 342 shares during the period. Finally, HT Partners LLC bought a new position in Tesla during the third quarter worth about $272,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 price target on shares of Tesla in a report on Tuesday, September 10th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective on the stock in a research note on Thursday. Finally, Barclays decreased their target price on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $218.18.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were 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 directly 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 disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $260.48 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average price is $228.54 and its two-hundred day moving average price is $206.41. The company has a market cap of $832.14 billion, a PE ratio of 73.17, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. 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 business earned $0.53 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 1.75 EPS for the current year.

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.