Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Global Wealth Management Investment Advisory Inc.

Global Wealth Management Investment Advisory Inc. cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,854 shares of the electric vehicle producer’s stock after selling 135 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Tesla were worth $1,270,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TSLA. Bank & Trust Co purchased a new position in shares of Tesla during the 2nd quarter worth $25,000. Clean Yield Group boosted its stake in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the period. Abich Financial Wealth Management LLC increased its position in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla in the 2nd quarter valued at approximately $26,000. Finally, M&R Capital Management Inc. lifted its holdings in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSLA. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Barclays boosted their price objective on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Canaccord Genuity Group raised their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Finally, Mizuho raised their price objective on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $219.45.

Tesla Stock Performance

Shares of Tesla stock traded up $9.38 on Tuesday, hitting $252.22. The stock had a trading volume of 8,931,762 shares, compared to its average volume of 93,662,000. The company’s 50 day moving average price is $234.73 and its 200 day moving average price is $211.81. The stock has a market cap of $809.64 billion, a price-to-earnings ratio of 66.53, a P/E/G ratio of 8.21 and a beta of 2.29. 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 $273.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 1.96 EPS for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the 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 completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this link. 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,297 shares of company stock worth $4,072,906 in 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.