Whitaker Myers Wealth Managers LTD. Sells 814 Shares of Tesla, Inc. (NASDAQ:TSLA)

Whitaker Myers Wealth Managers LTD. lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,346 shares of the electric vehicle producer’s stock after selling 814 shares during the period. Whitaker Myers Wealth Managers LTD.’s holdings in Tesla were worth $1,137,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Clean Energy Transition LLP raised its position in Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. lifted its position 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 worth $41,064,917,000 after purchasing an additional 3,795,748 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Tesla by 12.9% in the first 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 purchasing an additional 1,125,329 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TSLA shares. Wells Fargo & Company restated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research note on Monday, July 1st. TD Cowen raised their price target on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Citigroup dropped their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. William Blair initiated coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a research report on Friday, July 5th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $210.72.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction 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 transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock worth $16,663,291 over the last three months. Insiders own 25.10% of the company’s stock.

Tesla Stock Down 0.1 %

TSLA stock opened at $220.70 on Friday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The business has a 50-day simple moving average of $227.67 and a 200 day simple moving average of $205.39. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $703.86 billion, a PE ratio of 56.30, a price-to-earnings-growth ratio of 5.94 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm 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%. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

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.