Vigilare Wealth Management Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

Vigilare Wealth Management reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 9.8% during the third quarter, HoldingsChannel.com reports. The firm owned 3,609 shares of the electric vehicle producer’s stock after selling 392 shares during the quarter. Vigilare Wealth Management’s holdings in Tesla were worth $944,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new position in shares of Tesla in the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Clean Yield Group grew 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 valued at $33,000 after buying an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated 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 transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,297 shares of company stock valued at $3,065,866. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Stifel Nicolaus increased their target price on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of Tesla in a research note on Thursday, October 24th. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a research note on Friday, July 5th. Royal Bank of Canada increased their price objective on shares of Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a research note on Thursday, October 17th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $219.45.

Tesla Stock Down 0.3 %

NASDAQ:TSLA opened at $248.98 on Friday. The firm has a market capitalization of $799.24 billion, a PE ratio of 68.21, a price-to-earnings-growth ratio of 8.24 and a beta of 2.29. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.54. 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 stock has a 50 day moving average of $234.14 and a 200-day moving average of $210.39.

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

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.