Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Shariaportfolio Inc.

Shariaportfolio Inc. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,185 shares of the electric vehicle producer’s stock after selling 16,196 shares during the period. Tesla makes up 12.5% of Shariaportfolio Inc.’s portfolio, making the stock its 3rd biggest position. Shariaportfolio Inc.’s holdings in Tesla were worth $23,595,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Integris Wealth Management LLC grew its holdings in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc grew its holdings in Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares in the last quarter. Echo Wealth Management LLC grew its holdings in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares in the last quarter. WASHINGTON TRUST Co lifted its position in shares of Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC lifted its position in shares of Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after buying an additional 45 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Glj Research restated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Royal Bank of Canada raised their price target on shares of Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research report on Monday, October 7th. Finally, Morgan Stanley restated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research report on Thursday, October 3rd. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $211.63.

Tesla Price Performance

NASDAQ TSLA opened at $218.85 on Tuesday. The company has a 50 day moving average price of $228.09 and a two-hundred day moving average price of $205.99. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The stock has a market capitalization of $699.15 billion, a PE ratio of 61.47, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was 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 $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,661 shares of company stock valued at $16,663,291. 20.70% of the stock is owned by company insiders.

Tesla 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.