Spectrum Wealth Advisory Group LLC Sells 216 Shares of Tesla, Inc. (NASDAQ:TSLA)

Spectrum Wealth Advisory Group LLC lessened its position in Tesla, Inc. (NASDAQ:TSLA) by 21.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 813 shares of the electric vehicle producer’s stock after selling 216 shares during the quarter. Spectrum Wealth Advisory Group LLC’s holdings in Tesla were worth $213,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank & Trust Co bought a new stake in shares of Tesla in the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla in the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its holdings 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 worth $26,000 after acquiring an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla in the 3rd quarter worth about $29,000. Finally, Clean Yield Group lifted 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 worth $33,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 5.8 %

NASDAQ:TSLA opened at $339.29 on Monday. The company has a market cap of $1.09 trillion, a PE ratio of 87.87, a P/E/G ratio of 10.42 and a beta of 2.29. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $358.64. 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 company’s 50 day moving average is $252.30 and its two-hundred day moving average is $221.01.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. Tesla’s revenue was up 7.8% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla 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 owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 188,797 shares of company stock worth $57,616,781. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TSLA. HSBC reiterated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a report on Friday, October 11th. Barclays lifted their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $130.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Wednesday, October 23rd. Finally, Robert W. Baird reiterated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. Nine investment 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. According to data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $230.18.

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.