Focused Wealth Management Inc Has $5.84 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Focused Wealth Management Inc cut its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 22,335 shares of the electric vehicle producer's stock after selling 2,020 shares during the period. Tesla comprises approximately 0.8% of Focused Wealth Management Inc's holdings, making the stock its 23rd biggest position. Focused Wealth Management Inc's holdings in Tesla were worth $5,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer's stock valued at $41,064,917,000 after buying an additional 3,795,748 shares during the period. International Assets Investment Management LLC boosted its stake in Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer's stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares during the period. Strategic Financial Concepts LLC boosted its stake in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer's stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. ARK Investment Management LLC boosted its stake in Tesla by 2.6% during the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer's stock valued at $1,051,613,000 after purchasing an additional 135,966 shares during the period. Finally, National Pension Service boosted its stake in Tesla by 15.3% during the 3rd quarter. National Pension Service now owns 5,182,657 shares of the electric vehicle producer's stock valued at $1,355,939,000 after purchasing an additional 688,717 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TSLA shares. Guggenheim boosted their target price on shares of Tesla from $153.00 to $156.00 and gave the company a "sell" rating in a research note on Thursday, October 24th. Barclays boosted their target price on shares of Tesla from $220.00 to $235.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. Sanford C. Bernstein reaffirmed an "underperform" rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. William Blair assumed coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an "outperform" rating for the company. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus price target of $219.45.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the business's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares of the company's stock, valued at $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the company'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 directly owns 67,491 shares of the company's stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the company's 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 sale, the director now directly owns 1,563,220 shares of the company's stock, valued at approximately $391,164,540.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,797 shares of company stock valued at $19,211,821 over the last ninety days. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Up 14.8 %

TSLA traded up $37.09 on Wednesday, reaching $288.53. 164,850,471 shares of the company traded hands, compared to its average volume of 94,268,797. The stock's 50 day moving average price is $237.23 and its 200-day moving average price is $213.07. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $289.59. The company has a market cap of $926.20 billion, a price-to-earnings ratio of 79.05, a PEG ratio of 8.01 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS 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 the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

About Tesla

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.