Focused Wealth Management Inc Lowers Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Focused Wealth Management Inc lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,335 shares of the electric vehicle producer’s stock after selling 2,020 shares during the quarter. Tesla makes up 0.8% of Focused Wealth Management Inc’s investment portfolio, making the stock its 23rd largest holding. Focused Wealth Management Inc’s holdings in Tesla were worth $5,843,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank & Trust Co purchased a new stake in shares of Tesla during the second quarter worth $25,000. Clean Yield Group increased its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the second quarter worth about $26,000. Finally, M&R Capital Management Inc. increased its stake in shares of Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price target on shares of Tesla in a report on Wednesday, October 23rd. HSBC reissued a “reduce” rating and issued a $124.00 target price on shares of Tesla in a report on Friday, October 11th. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and raised their target price for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Finally, Bank of America boosted their target price on Tesla from $255.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $219.45.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the business’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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. 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 can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 76,797 shares of company stock worth $19,211,821 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $251.44 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $235.57 and its two-hundred day moving average is $212.54. The stock has a market capitalization of $807.14 billion, a price-to-earnings ratio of 68.89, a PEG ratio of 8.01 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping 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 firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 1.96 EPS for the current year.

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.