Mission Wealth Management LP Cuts Stock Holdings in Tesla Inc (NASDAQ:TSLA)

Mission Wealth Management LP decreased its holdings in shares of Tesla Inc (NASDAQ:TSLA) by 2.2% in the 3rd quarter, Holdings Channel reports. The firm owned 6,361 shares of the electric vehicle producer’s stock after selling 146 shares during the period. Mission Wealth Management LP’s holdings in Tesla were worth $1,532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Clarus Wealth Advisors boosted its stake in Tesla by 83.3% in the second quarter. Clarus Wealth Advisors now owns 110 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 50 shares in the last quarter. Trustcore Financial Services LLC lifted its position in Tesla by 121.8% in the second quarter. Trustcore Financial Services LLC now owns 122 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. AllSquare Wealth Management LLC bought a new stake in Tesla in the second quarter valued at approximately $28,000. Bedel Financial Consulting Inc. lifted its position in Tesla by 197.7% in the second quarter. Bedel Financial Consulting Inc. now owns 128 shares of the electric vehicle producer’s stock valued at $29,000 after purchasing an additional 85 shares during the last quarter. Finally, HM Payson & Co. bought a new stake in Tesla in the second quarter valued at approximately $30,000. 54.41% of the stock is owned by institutional investors.

Shares of Tesla stock traded up $1.62 during midday trading on Thursday, reaching $261.37. 2,496,250 shares of the company’s stock traded hands, compared to its average volume of 7,992,599. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.71 and a current ratio of 1.06. The company has a market cap of $46.75 billion, a PE ratio of -45.69 and a beta of 0.52. The stock has a 50 day moving average of $237.17 and a 200-day moving average of $234.90. Tesla Inc has a 12 month low of $176.99 and a 12 month high of $379.49.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 24th. The electric vehicle producer reported ($2.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.55) by ($0.76). The business had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.44 billion. Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. Tesla’s revenue was up 58.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($3.06) EPS. On average, equities analysts anticipate that Tesla Inc will post -7.51 earnings per share for the current fiscal year.

Several analysts have weighed in on the company. Royal Bank of Canada reiterated a “sell” rating on shares of Tesla in a research report on Thursday, October 3rd. BNP Paribas assumed coverage on Tesla in a research report on Wednesday, October 2nd. They issued an “outperform” rating for the company. Nord/LB set a $195.00 price objective on Tesla and gave the company a “sell” rating in a research report on Monday, October 7th. Piper Jaffray Companies set a $386.00 price objective on Tesla and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, ValuEngine upgraded Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Eighteen equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $266.76.

In other Tesla news, CFO Zachary Kirkhorn sold 150 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $242.47, for a total value of $36,370.50. Following the completion of the transaction, the chief financial officer now owns 10,001 shares in the company, valued at $2,424,942.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey B. Straubel sold 15,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $230.45, for a total value of $3,456,750.00. Following the completion of the transaction, the insider now owns 287,723 shares of the company’s stock, valued at approximately $66,305,765.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,300 shares of company stock valued at $3,526,721. 24.40% of the stock is owned by corporate insiders.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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