Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,688 shares of the electric vehicle producer’s stock after selling 366 shares during the quarter. Sunbelt Securities Inc.’s holdings in Tesla were worth $5,413,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TSLA. Envestnet Portfolio Solutions Inc. lifted its stake in Tesla by 6.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 81,040 shares of the electric vehicle producer’s stock worth $16,036,000 after purchasing an additional 5,189 shares during the last quarter. Country Club Bank boosted its stake in Tesla by 42.9% in the second quarter. Country Club Bank now owns 10,330 shares of the electric vehicle producer’s stock valued at $2,039,000 after acquiring an additional 3,101 shares during the period. Abundance Wealth Counselors grew its holdings in shares of Tesla by 5.5% during the second quarter. Abundance Wealth Counselors now owns 5,727 shares of the electric vehicle producer’s stock valued at $1,133,000 after purchasing an additional 301 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of Tesla by 8.1% in the 2nd quarter. AlphaMark Advisors LLC now owns 949 shares of the electric vehicle producer’s stock worth $188,000 after purchasing an additional 71 shares during the last quarter. Finally, FinDec Wealth Services Inc. acquired a new stake in Tesla in the second quarter worth $202,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on 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 owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 522,886 shares of company stock worth $171,393,831 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Up 2.9 %

NASDAQ TSLA opened at $400.99 on Wednesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $409.73. The stock has a 50-day simple moving average of $288.09 and a 200 day simple moving average of $240.67. 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 company has a market capitalization of $1.29 trillion, a PE ratio of 109.86, a P/E/G ratio of 12.64 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during 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%. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. Research analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Bank of America boosted their price target on Tesla from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. The Goldman Sachs Group increased their target price on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. UBS Group boosted their price objective on Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. Finally, Stifel Nicolaus boosted their target price on shares of Tesla from $287.00 to $411.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Nine research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $254.48.

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.