Lake Street Private Wealth LLC Trims Position in Tesla, Inc. (NASDAQ:TSLA)

Lake Street Private Wealth LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 56.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 3,781 shares of the electric vehicle producer’s stock after selling 4,872 shares during the period. Lake Street Private Wealth LLC’s holdings in Tesla were worth $989,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in 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 worth $108,638,000 after acquiring an additional 206,248 shares in the last quarter. Morse Asset Management Inc lifted its position in shares of Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after purchasing an additional 3,462 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Tesla by 12.9% during the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after purchasing an additional 27,130 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Tesla during the first quarter worth approximately $1,941,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Tesla during the first quarter worth approximately $79,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,661 shares of company stock worth $16,663,291. Company insiders own 25.10% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA traded down $1.65 on Wednesday, hitting $216.32. The company’s stock had a trading volume of 18,478,773 shares, compared to its average volume of 93,517,469. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average of $228.30 and a two-hundred day moving average of $206.36. The firm has a market capitalization of $689.89 billion, a P/E ratio of 55.09, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $230.00 price objective on shares of Tesla in a report on Friday, October 11th. Wedbush restated an “outperform” rating and issued a $300.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Roth Mkm reissued a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. Finally, Argus restated a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $211.63.

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.