Good Life Advisors LLC Sells 217 Shares of Tesla, Inc. (NASDAQ:TSLA)

Good Life Advisors LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 17,230 shares of the electric vehicle producer’s stock after selling 217 shares during the quarter. Good Life Advisors LLC’s holdings in Tesla were worth $4,508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Bank & Trust Co purchased a new stake in shares of Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC increased its stake in shares of Tesla by 168.8% during the second 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 period. Clean Yield Group raised its holdings 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 acquiring an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. lifted its stake in Tesla by 263.2% in the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 0.8 %

Tesla stock traded down $1.69 during trading hours on Thursday, hitting $219.64. The company had a trading volume of 25,884,621 shares, compared to its average volume of 94,461,039. The firm’s fifty day moving average is $226.81 and its 200-day moving average is $204.69. The firm has a market capitalization of $701.67 billion, a P/E ratio of 61.73, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was 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 directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,661 shares of company stock worth $16,663,291. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSLA. Barclays dropped their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Stifel Nicolaus started coverage on Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target for the company. Citigroup cut their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. KGI Securities restated a “neutral” rating and set a $236.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Finally, Piper Sandler boosted their target price on shares of Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $210.72.

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.