Wealth Architects LLC Trims Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wealth Architects LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 5.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 6,982 shares of the electric vehicle producer’s stock after selling 390 shares during the period. Wealth Architects LLC’s holdings in Tesla were worth $1,827,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Integris Wealth Management LLC raised its holdings in shares of Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its stake in shares of 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 valued at $800,000 after buying an additional 43 shares during the last quarter. Echo Wealth Management LLC lifted its holdings in shares of Tesla by 0.7% in the 2nd 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 during the period. WASHINGTON TRUST Co boosted its stake in shares of Tesla by 3.2% in the second 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 grew its holdings in Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after acquiring an additional 45 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Stifel Nicolaus upped their price objective on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Citigroup cut their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Wells Fargo & Company upped their price target on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, Mizuho raised their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Eight 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $219.45.

Tesla Stock Performance

Shares of Tesla stock opened at $288.53 on Thursday. The firm has a market cap of $926.20 billion, a PE ratio of 79.05, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 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 $289.59. The business’s fifty day simple moving average is $237.23 and its 200-day simple moving average is $213.07.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company 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%. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. Equities analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This 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 can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred 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 owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,797 shares of company stock worth $19,211,821. Insiders own 20.70% of the company’s stock.

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.