Mutual of America Capital Management LLC Sells 8,300 Shares of Tesla, Inc. (NASDAQ:TSLA)

Mutual of America Capital Management LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 341,846 shares of the electric vehicle producer's stock after selling 8,300 shares during the period. Tesla makes up 0.9% of Mutual of America Capital Management LLC's portfolio, making the stock its 11th biggest position. Mutual of America Capital Management LLC's holdings in Tesla were worth $89,437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Transcendent Capital Group LLC bought a new position in shares of Tesla during the third quarter worth about $29,000. Bank & Trust Co bought a new stake in shares of Tesla in the second quarter worth $25,000. Clean Yield Group grew its position in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC increased its stake in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock valued at $26,000 after buying an additional 81 shares during the last quarter. Finally, Valley Wealth Managers Inc. bought a new stake in Tesla during the 2nd quarter worth about $26,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TSLA shares. Argus restated a "buy" rating and issued a $286.00 price target on shares of Tesla in a research note on Friday, July 26th. Canaccord Genuity Group boosted their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. William Blair began coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an "outperform" rating for the company. Canaccord Genuity Group upped their price objective on Tesla from $254.00 to $278.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, Robert W. Baird reiterated an "outperform" rating and set a $280.00 target price on shares of Tesla in a research note on Tuesday, August 20th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $230.18.

Tesla Price Performance

Shares of Tesla stock traded up $9.54 during trading on Friday, reaching $320.72. 114,440,286 shares of the company's stock were exchanged, compared to its average volume of 109,566,312. The firm's 50-day moving average price is $252.30 and its 200 day moving average price is $220.72. The company has a market cap of $1.03 trillion, a P/E ratio of 87.87, a PEG ratio of 10.42 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the business posted $0.53 earnings per share. The company's quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 67,491 shares of the company's stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company's stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock valued at $57,616,781 in the last 90 days. Corporate insiders own 20.70% of the company's stock.

Tesla Company 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.