Insigneo Advisory Services LLC Has $10.78 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Insigneo Advisory Services LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,188 shares of the electric vehicle producer’s stock after selling 635 shares during the quarter. Tesla makes up approximately 1.1% of Insigneo Advisory Services LLC’s investment portfolio, making the stock its 13th largest position. Insigneo Advisory Services LLC’s holdings in Tesla were worth $10,776,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TSLA. Valley Wealth Managers Inc. acquired a new position in Tesla during the second quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its holdings 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 worth $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the third quarter worth approximately $29,000. Clean Yield Group boosted its holdings in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Finally, Peterson Financial Group Inc. bought a new stake in shares of Tesla during the third quarter worth approximately $35,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 420,280 shares of company stock valued at $135,164,640 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TSLA. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Canaccord Genuity Group boosted 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. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 24th. Wells Fargo & Company boosted their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Wolfe Research began coverage on Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $245.84.

Tesla Stock Performance

Shares of Tesla stock opened at $369.49 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average price of $282.96 and a two-hundred day moving average price of $236.89. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $375.43. The company has a market cap of $1.19 trillion, a P/E ratio of 101.23, a PEG ratio of 11.41 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm 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% compared to the same quarter last year. During the same period last year, the business posted $0.53 EPS. As a group, analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Tesla Company 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.