MFA Wealth Advisors LLC Cuts Position in Tesla, Inc. (NASDAQ:TSLA)

MFA Wealth Advisors LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,305 shares of the electric vehicle producer’s stock after selling 506 shares during the period. MFA Wealth Advisors LLC’s holdings in Tesla were worth $2,173,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Tesla in the 1st quarter worth approximately $79,000. Sovereign Financial Group Inc. grew its holdings in Tesla by 5.2% in the first quarter. Sovereign Financial Group Inc. now owns 2,076 shares of the electric vehicle producer’s stock valued at $365,000 after purchasing an additional 102 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Tesla by 3.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 14,655 shares of the electric vehicle producer’s stock valued at $2,576,000 after buying an additional 501 shares in the last quarter. Pasadena Private Wealth LLC raised its stake in shares of Tesla by 76.8% during the 1st quarter. Pasadena Private Wealth LLC now owns 4,658 shares of the electric vehicle producer’s stock worth $819,000 after buying an additional 2,023 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in shares of Tesla by 6.3% in the 1st quarter. 180 Wealth Advisors LLC now owns 34,277 shares of the electric vehicle producer’s stock worth $6,025,000 after buying an additional 2,039 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction 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 $26,258,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is owned by company insiders.

Tesla Stock Down 2.0 %

Shares of Tesla stock opened at $213.65 on Thursday. The company has a fifty day moving average price of $228.54 and a 200 day moving average price of $206.41. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The stock has a market cap of $682.53 billion, a price-to-earnings ratio of 60.01, a price-to-earnings-growth ratio of 6.24 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 (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. Equities research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on TSLA shares. Wells Fargo & Company restated an “underweight” rating and set a $120.00 target price on shares of Tesla in a research report on Monday, July 1st. Royal Bank of Canada upped their target price on Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Glj Research reissued a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Roth Mkm restated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Finally, TD Cowen lifted their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $211.63.

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.