Intellectus Partners LLC Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

Intellectus Partners LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 0.7% during the third quarter, Holdings Channel reports. The institutional investor owned 67,414 shares of the electric vehicle producer’s stock after selling 505 shares during the quarter. Tesla comprises approximately 4.5% of Intellectus Partners LLC’s investment portfolio, making the stock its largest holding. Intellectus Partners LLC’s holdings in Tesla were worth $17,638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank & Trust Co purchased a new position in Tesla in the 2nd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC lifted 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 purchasing an additional 81 shares during the period. Transcendent Capital Group LLC purchased a new stake in Tesla in the third quarter valued at approximately $29,000. Finally, Clean Yield Group increased its holdings in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent research reports. Citigroup dropped their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Morgan Stanley restated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Wolfe Research initiated coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Finally, New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research report on Wednesday, July 24th. Nine 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 company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $228.24.

Tesla Price Performance

NASDAQ:TSLA opened at $311.18 on Friday. The stock has a 50 day moving average price of $248.48 and a 200 day moving average price of $218.94. The stock has a market cap of $998.91 billion, a PE ratio of 85.25, a P/E/G ratio of 10.73 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share. Equities research analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 188,797 shares of company stock worth $57,616,781 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

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.