Activest Wealth Management Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Activest Wealth Management decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.2% during the third quarter, HoldingsChannel reports. The firm owned 8,819 shares of the electric vehicle producer’s stock after selling 1,111 shares during the quarter. Tesla accounts for approximately 0.7% of Activest Wealth Management’s holdings, making the stock its 19th biggest position. Activest Wealth Management’s holdings in Tesla were worth $2,307,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Connable Office Inc. grew its holdings in shares of Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after buying an additional 38 shares during the last quarter. Holistic Financial Partners lifted its position in Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares in the last quarter. Integris Wealth Management LLC grew its stake in shares of Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc increased its stake in shares of Tesla by 1.4% in the third 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. Finally, Altman Advisors Inc. increased its stake in Tesla by 0.4% in the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after buying an additional 43 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla 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 transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,187 shares of company stock worth $92,956,692. Insiders own 20.70% of the company’s stock.

Tesla Stock Up 1.1 %

TSLA traded up $3.83 during trading on Thursday, reaching $345.86. 5,178,031 shares of the stock were exchanged, compared to its average volume of 95,597,656. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $358.64. The stock’s 50 day moving average price is $259.42 and its two-hundred day moving average price is $224.12. 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 stock has a market cap of $1.11 trillion, a P/E ratio of 93.71, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $25.47 billion. During the same quarter in the prior year, the business posted $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TSLA. Canaccord Genuity Group upped their price objective on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. HSBC reissued a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. Morgan Stanley restated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, October 3rd. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research note on Thursday, October 24th. Finally, Guggenheim upped their price objective on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research note on Thursday, October 24th. Nine investment 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. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $230.18.

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.