Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Aspen Wealth Strategies LLC

Aspen Wealth Strategies LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 19.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,265 shares of the electric vehicle producer’s stock after selling 534 shares during the period. Aspen Wealth Strategies LLC’s holdings in Tesla were worth $593,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Integris Wealth Management LLC boosted its stake in shares of 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% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after purchasing an additional 43 shares during the period. Echo Wealth Management LLC increased its position in shares of Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares in the last quarter. WASHINGTON TRUST Co raised its stake in shares of Tesla by 3.2% during 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 period. Finally, Bellevue Asset Management LLC lifted its position in shares of Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,297 shares of company stock worth $3,065,866 over the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 3.0 %

Shares of NASDAQ TSLA opened at $249.85 on Friday. The stock has a fifty day simple moving average of $233.56 and a 200-day simple moving average of $209.78. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $273.54. 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 stock has a market capitalization of $802.03 billion, a PE ratio of 68.45, a PEG ratio of 8.49 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. During the same quarter in the prior year, the company earned $0.53 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on TSLA. Argus reissued a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Citigroup reduced their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a report on Friday, July 5th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $219.45.

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.