Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Adamsbrown Wealth Consultants LLC

Adamsbrown Wealth Consultants LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,038 shares of the electric vehicle producer’s stock after selling 80 shares during the period. Adamsbrown Wealth Consultants LLC’s holdings in Tesla were worth $272,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Beacon Financial Group acquired a new stake in Tesla in the fourth quarter valued at approximately $227,000. Scarborough Advisors LLC increased its stake in Tesla by 9.7% during the 4th quarter. Scarborough Advisors LLC now owns 1,604 shares of the electric vehicle producer’s stock worth $399,000 after buying an additional 142 shares during the period. A.P. Gilfoyle & Co. L.P. acquired a new position in Tesla in the 4th quarter worth $50,000. Vima LLC purchased a new position in Tesla in the 4th quarter valued at about $108,000. Finally, Fortis Group Advisors LLC increased its position in shares of Tesla by 28.6% during the fourth quarter. Fortis Group Advisors LLC now owns 3,384 shares of the electric vehicle producer’s stock worth $841,000 after acquiring an additional 753 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Tesla stock traded up $1.03 during trading hours on Monday, hitting $218.83. 20,102,895 shares of the company traded hands, compared to its average volume of 94,862,883. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The firm has a market cap of $697.89 billion, a P/E ratio of 55.56, a P/E/G ratio of 6.48 and a beta of 2.29. The firm’s 50-day simple moving average is $225.43 and its two-hundred day simple moving average is $203.96. 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 posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. As a group, analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Transactions at Tesla

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 shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,661 shares of company stock valued at $16,663,291. Corporate insiders own 25.10% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of a number of analyst reports. Piper Sandler increased their price target on Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Wolfe Research initiated coverage on Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Royal Bank of Canada increased their price objective on shares of Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 target price on shares of Tesla in a research report on Monday, July 1st. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $210.72.

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.