Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Evolution Wealth Advisors LLC

Evolution Wealth Advisors LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 20.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,768 shares of the electric vehicle producer’s stock after selling 1,239 shares during the quarter. Evolution Wealth Advisors LLC’s holdings in Tesla were worth $1,247,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TSLA. Bank & Trust Co purchased a new position in Tesla in the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the second quarter valued at $26,000. Abich Financial Wealth Management LLC raised its stake in shares of Tesla by 168.8% during the 2nd 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 during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Tesla in the 3rd quarter worth about $29,000. Finally, Clean Yield Group grew its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred 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 sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. 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 over the last three months. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TSLA shares. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Royal Bank of Canada boosted their target price on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Truist Financial lifted their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $230.18.

Tesla Trading Up 3.1 %

Shares of TSLA opened at $320.72 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The stock has a 50-day moving average price of $252.30 and a 200 day moving average price of $220.46. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market capitalization of $1.03 trillion, a P/E ratio of 87.87, a P/E/G ratio of 10.73 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business 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 business’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal 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.