Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,511 shares of the electric vehicle producer’s stock after selling 43 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Tesla were worth $395,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares during the last quarter. Gladstone Institutional Advisory LLC raised its stake in Tesla by 6.5% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock valued at $11,349,000 after acquiring an additional 2,664 shares during the last quarter. Morse Asset Management Inc raised its stake in Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after acquiring an additional 3,462 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Tesla by 34.1% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock valued at $1,087,000 after acquiring an additional 1,059 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Tesla by 12.9% during the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after buying an additional 27,130 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction 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 directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,797 shares of company stock worth $19,211,821 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 3.5 %

NASDAQ:TSLA opened at $251.44 on Wednesday. The firm has a market capitalization of $807.14 billion, a PE ratio of 68.89, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29. The stock has a 50 day moving average of $235.57 and a 200-day moving average of $212.54. Tesla, Inc. has a 52 week low of $138.80 and a 52 week 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.

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

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of analyst reports. Barclays increased their target price on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price target on shares of Tesla in a research note on Wednesday, October 23rd. Finally, UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and increased their price target for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.