Sageworth Trust Co Sells 1,760 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sageworth Trust Co decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,790 shares of the electric vehicle producer’s stock after selling 1,760 shares during the period. Tesla comprises about 0.3% of Sageworth Trust Co’s holdings, making the stock its 26th largest position. Sageworth Trust Co’s holdings in Tesla were worth $4,393,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares during the last quarter. International Assets Investment Management LLC grew its position in Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after buying an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after buying an additional 5,875,484 shares in the last quarter. Finally, ARK Investment Management LLC boosted its stake in shares of Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after buying an additional 135,966 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Up 3.3 %

Tesla stock traded up $8.71 during mid-day trading on Friday, hitting $269.19. The company had a trading volume of 161,611,931 shares, compared to its average volume of 94,680,352. The company has a market capitalization of $858.50 billion, a PE ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The stock’s 50 day moving average price is $229.47 and its two-hundred day moving average price is $206.79. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. 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 (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the firm posted $0.53 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TSLA. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their target price on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday. Wolfe Research initiated coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Argus reaffirmed a “buy” rating and issued a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Finally, Stifel Nicolaus lifted their price objective on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $219.00.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated 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 $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 directly 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. 25.10% of the stock is owned by insiders.

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.