Tesla, Inc. (NASDAQ:TSLA) Position Decreased by WealthPLAN Partners LLC

WealthPLAN Partners LLC cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,486 shares of the electric vehicle producer’s stock after selling 2,163 shares during the period. WealthPLAN Partners LLC’s holdings in Tesla were worth $2,743,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its holdings in shares of Tesla by 0.9% during the third quarter. Harbour Investments Inc. now owns 24,855 shares of the electric vehicle producer’s stock valued at $6,503,000 after purchasing an additional 227 shares during the last quarter. Entropy Technologies LP purchased a new stake in Tesla during the third quarter valued at about $2,642,000. Everhart Financial Group Inc. boosted its holdings in shares of Tesla by 15.5% in the third quarter. Everhart Financial Group Inc. now owns 14,208 shares of the electric vehicle producer’s stock worth $3,717,000 after buying an additional 1,903 shares during the period. Venturi Wealth Management LLC increased its position in shares of Tesla by 20.7% in the third quarter. Venturi Wealth Management LLC now owns 16,130 shares of the electric vehicle producer’s stock worth $4,220,000 after acquiring an additional 2,764 shares in the last quarter. Finally, Core Wealth Partners LLC raised its holdings in shares of Tesla by 30.7% during the third quarter. Core Wealth Partners LLC now owns 2,572 shares of the electric vehicle producer’s stock valued at $673,000 after acquiring an additional 604 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 9.0 %

TSLA opened at $350.00 on Tuesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The business has a 50 day moving average of $243.90 and a 200-day moving average of $217.03. The stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 95.89, a P/E/G ratio of 10.59 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the business posted $0.53 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TSLA. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Finally, Wolfe Research assumed coverage on shares of Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $225.06.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction 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 $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Tesla news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The stock was 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 $391,164,540.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,797 shares of company stock worth $19,211,821. 20.70% of the stock is currently owned by company insiders.

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.