Tesla, Inc. $TSLA Stock Holdings Lessened by Financial Life Planners

Financial Life Planners trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.7% during the second quarter, HoldingsChannel.com reports. The fund owned 1,579 shares of the electric vehicle producer’s stock after selling 132 shares during the period. Financial Life Planners’ holdings in Tesla were worth $502,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TSLA. Chelsea Counsel Co. lifted its stake in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. LGT Financial Advisors LLC purchased a new stake in shares of Tesla in the 2nd quarter valued at approximately $29,000. Evergreen Private Wealth LLC boosted its stake in Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the period. Glynn Capital Management LLC purchased a new position in Tesla during the 2nd quarter worth approximately $35,000. Finally, Pacific Center for Financial Services raised its stake in Tesla by 44.7% during the 1st quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after purchasing an additional 46 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

TSLA stock opened at $404.35 on Friday. The company has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 269.57, a P/E/G ratio of 16.84 and a beta of 2.06. The firm has a 50 day moving average of $429.67 and a two-hundred day moving average of $360.30. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the company posted $0.72 earnings per share. Tesla’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. Stifel Nicolaus set a $483.00 price target on Tesla and gave the company a “buy” rating in a report on Wednesday, October 8th. Truist Financial lifted their target price on Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Melius began coverage on Tesla in a report on Monday, October 13th. They issued a “buy” rating and a $520.00 target price on the stock. Wall Street Zen upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, HSBC upped their price objective on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $393.61.

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.