Tesla, Inc. (NASDAQ:TSLA) Holdings Cut by Solidarity Wealth LLC

Solidarity Wealth LLC trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 22.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,170 shares of the electric vehicle producer’s stock after selling 334 shares during the quarter. Solidarity Wealth LLC’s holdings in Tesla were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in TSLA. Integris Wealth Management LLC raised its holdings 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 buying an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc boosted its position 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 worth $800,000 after acquiring an additional 43 shares during the period. Echo Wealth Management LLC grew its stake in shares of Tesla by 0.7% in the second 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 in the last quarter. WASHINGTON TRUST Co increased its holdings in shares of Tesla by 3.2% during the second 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 during the period. Finally, Bellevue Asset Management LLC raised its stake in shares of Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. William Blair initiated coverage on shares of Tesla in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research note on Thursday, October 24th. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research note on Friday, July 5th. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $219.45.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,297 shares of company stock worth $3,065,866. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.8 %

Tesla stock opened at $257.55 on Thursday. The business has a 50 day moving average price of $232.78 and a two-hundred day moving average price of $209.50. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $273.54. The stock has a market cap of $826.75 billion, a price-to-earnings ratio of 70.56, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 1.75 EPS for the current 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.