Ritter Daniher Financial Advisory LLC DE Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Ritter Daniher Financial Advisory LLC DE trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,931 shares of the electric vehicle producer’s stock after selling 45 shares during the quarter. Ritter Daniher Financial Advisory LLC DE’s holdings in Tesla were worth $767,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Tesla by 0.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after acquiring an additional 331 shares in the last quarter. M&G Plc bought a new stake in Tesla in the 1st quarter worth about $2,509,000. Catalytic Wealth RIA LLC purchased a new position in Tesla in the 1st quarter worth about $732,000. Covestor Ltd lifted its holdings in Tesla by 28.4% in the first quarter. Covestor Ltd now owns 1,606 shares of the electric vehicle producer’s stock valued at $282,000 after acquiring an additional 355 shares during the period. Finally, Resurgent Financial Advisors LLC boosted its holdings in shares of Tesla by 60.1% in the first quarter. Resurgent Financial Advisors LLC now owns 5,267 shares of the electric vehicle producer’s stock worth $926,000 after buying an additional 1,978 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of TSLA stock opened at $320.72 on Friday. The company’s 50-day simple moving average is $252.30 and its two-hundred day simple moving average is $220.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The company has a market capitalization of $1.03 trillion, a P/E ratio of 87.87, a P/E/G ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced 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. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Tesla’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TSLA shares. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Bank of America lifted their price target on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Roth Mkm reissued a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Finally, Wolfe Research assumed coverage on Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $230.18.

Insider Activity

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 188,797 shares of company stock worth $57,616,781. 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.