Mogy Joel R Investment Counsel Inc. Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

Mogy Joel R Investment Counsel Inc. trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.1% in the third quarter, HoldingsChannel.com reports. The fund owned 9,362 shares of the electric vehicle producer’s stock after selling 500 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in Tesla were worth $2,449,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co lifted its position in Tesla by 4.0% during the third quarter. Riverview Trust Co now owns 1,939 shares of the electric vehicle producer’s stock worth $507,000 after buying an additional 75 shares during the period. Moss Adams Wealth Advisors LLC grew its stake in Tesla by 18.1% during the third quarter. Moss Adams Wealth Advisors LLC now owns 6,408 shares of the electric vehicle producer’s stock worth $1,677,000 after buying an additional 980 shares during the period. Generate Investment Management Ltd increased its position in shares of Tesla by 74.1% in the third quarter. Generate Investment Management Ltd now owns 53,222 shares of the electric vehicle producer’s stock worth $13,924,000 after acquiring an additional 22,653 shares in the last quarter. KMG Fiduciary Partners LLC raised its stake in shares of Tesla by 2.0% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 15,490 shares of the electric vehicle producer’s stock valued at $4,053,000 after acquiring an additional 304 shares during the period. Finally, Net Worth Advisory Group purchased a new stake in Tesla during the 3rd quarter worth $1,075,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TSLA shares. Argus reaffirmed a “buy” rating and issued a $286.00 target price on shares of Tesla in a research report on Friday, July 26th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $230.00 price objective on shares of Tesla in a research report on Friday, October 11th. Truist Financial upped their target price on shares of Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price target on shares of Tesla in a research note on Tuesday, September 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Friday, October 11th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $210.72.

Tesla Stock Performance

NASDAQ TSLA opened at $220.70 on Friday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The firm has a market capitalization of $703.86 billion, a price-to-earnings ratio of 56.30, a P/E/G ratio of 5.94 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm’s 50 day simple moving average is $227.67 and its 200 day simple moving average is $205.12.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,661 shares of company stock worth $16,663,291. Company insiders own 25.10% of the company’s stock.

Tesla 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.