Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Straight Path Wealth Management

Straight Path Wealth Management lowered its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,343 shares of the electric vehicle producer's stock after selling 7,495 shares during the quarter. Tesla accounts for 13.8% of Straight Path Wealth Management's holdings, making the stock its 2nd largest holding. Straight Path Wealth Management's holdings in Tesla were worth $32,009,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Transcendent Capital Group LLC purchased a new stake in Tesla in the third quarter valued at approximately $29,000. Bank & Trust Co purchased a new stake in shares of Tesla in the 2nd quarter valued at $25,000. Clean Yield Group increased its stake in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock worth $33,000 after purchasing an additional 48 shares during the period. Abich Financial Wealth Management LLC boosted 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 valued at $26,000 after purchasing an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the second quarter valued at approximately $26,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Up 3.1 %

Shares of TSLA traded up $9.54 during midday trading on Friday, hitting $320.72. The stock had a trading volume of 114,440,286 shares, compared to its average volume of 96,026,047. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $358.64. The business has a 50-day simple moving average of $252.30 and a two-hundred day simple moving average of $220.46. The firm has a market cap of $1.03 trillion, a P/E ratio of 87.87, a price-to-earnings-growth ratio of 10.73 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping 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%. The company's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was 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 of the company's stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at approximately $36,761,200. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,797 shares of company stock worth $57,616,781. 20.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TSLA. Phillip Securities lowered Tesla from a "moderate sell" rating to a "strong sell" rating in a research report on Wednesday. William Blair assumed coverage on shares of Tesla in a research note on Thursday, August 29th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. upped their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an "underweight" rating in a research note on Thursday, October 24th. Piper Sandler increased their price objective on shares of Tesla from $310.00 to $315.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus increased their price objective on shares of Tesla from $265.00 to $287.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Nine 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 data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $230.18.

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.