Sigma Planning Corp Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Sigma Planning Corp trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,732 shares of the electric vehicle producer’s stock after selling 3,485 shares during the period. Sigma Planning Corp’s holdings in Tesla were worth $10,657,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new stake in shares of Tesla during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. acquired a new stake in Tesla in the second quarter valued at $26,000. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the 3rd quarter worth about $29,000. Finally, Clean Yield Group increased its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a report on Thursday, October 24th. Roth Mkm restated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a report on Friday, October 11th. The Goldman Sachs Group increased their target price on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Finally, Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $222.03.

Tesla Stock Performance

Shares of TSLA stock opened at $321.22 on Friday. 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 stock has a 50 day simple moving average of $241.18 and a 200-day simple moving average of $214.90. The company has a market cap of $1.03 trillion, a price-to-earnings ratio of 88.01, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $328.71.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.53 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 1.96 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was 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 approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 76,797 shares of company stock worth $19,211,821 over the last 90 days. Company insiders own 20.70% of the company’s stock.

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.