Winch Advisory Services LLC Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Winch Advisory Services LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,841 shares of the electric vehicle producer’s stock after selling 52 shares during the period. Winch Advisory Services LLC’s holdings in Tesla were worth $1,267,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Integris Wealth Management LLC grew its stake in shares of Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc grew its stake in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares in the last quarter. Echo Wealth Management LLC increased its holdings in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co raised its position in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC boosted its stake in shares of Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after buying an additional 45 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TSLA shares. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research note on Friday, July 5th. Truist Financial increased their target price on Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a report on Thursday, October 3rd. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. Stifel Nicolaus started coverage on Tesla in a research note on Tuesday, June 25th. They set a “buy” rating and a $265.00 price objective on the stock. Finally, TD Cowen boosted their target price on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $211.63.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The shares were 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 approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $218.85 on Tuesday. The company’s fifty day moving average is $228.09 and its two-hundred day moving average is $205.99. The company has a market cap of $699.15 billion, a P/E ratio of 61.47, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Equities analysts expect that Tesla, Inc. will post 1.75 earnings per share 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.