Larson Financial Group LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Larson Financial Group LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,792 shares of the electric vehicle producer’s stock after selling 542 shares during the period. Larson Financial Group LLC’s holdings in Tesla were worth $4,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wescott Financial Advisory Group LLC boosted its holdings in Tesla by 3.2% in the third quarter. Wescott Financial Advisory Group LLC now owns 2,067 shares of the electric vehicle producer’s stock valued at $541,000 after purchasing an additional 65 shares in the last quarter. Penserra Capital Management LLC lifted its position in Tesla by 4.0% in the third quarter. Penserra Capital Management LLC now owns 19,814 shares of the electric vehicle producer’s stock valued at $5,182,000 after acquiring an additional 762 shares during the last quarter. StoneX Group Inc. grew its holdings in shares of Tesla by 2.8% during the third quarter. StoneX Group Inc. now owns 18,918 shares of the electric vehicle producer’s stock worth $4,950,000 after purchasing an additional 523 shares during the last quarter. Lane & Associates LLC purchased a new stake in shares of Tesla in the 3rd quarter valued at about $303,000. Finally, Algert Global LLC acquired a new stake in shares of Tesla in the 3rd quarter valued at about $3,194,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA stock opened at $352.56 on Friday. The company’s fifty day simple moving average is $264.07 and its 200-day simple moving average is $226.43. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.53. The company has a market cap of $1.13 trillion, a PE ratio of 96.59, a P/E/G ratio of 11.03 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for 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%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group boosted their price objective on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Bank of America upped their target price on shares of Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, Royal Bank of Canada upped their price objective on Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. 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 MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $230.18.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock worth $92,956,692 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.