Nwam LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 1.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 66,717 shares of the electric vehicle producer’s stock after selling 755 shares during the quarter. Tesla accounts for approximately 1.1% of Nwam LLC’s investment portfolio, making the stock its 14th biggest holding. Nwam LLC’s holdings in Tesla were worth $17,455,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Connable Office Inc. boosted its position in shares of Tesla by 0.3% in the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares during the period. Holistic Financial Partners boosted its position in shares of Tesla by 1.0% in the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after purchasing an additional 40 shares during the period. Integris Wealth Management LLC boosted its position in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc lifted its position in 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 worth $800,000 after acquiring an additional 43 shares during the period. Finally, Altman Advisors Inc. lifted its position in Tesla by 0.4% during the 3rd quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after acquiring an additional 43 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
TSLA has been the subject of a number of analyst reports. Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and issued a $400.00 price objective on shares of Tesla in a research note on Monday. Finally, Truist Financial raised their price objective on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $230.18.
Insider Buying and Selling at Tesla
In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 301,187 shares of company stock valued at $92,956,692. Corporate insiders own 20.70% of the company’s stock.
Tesla Stock Performance
TSLA opened at $342.96 on Friday. The company has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 93.20, a price-to-earnings-growth ratio of 11.24 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $358.64. The business has a 50 day moving average price of $261.63 and a two-hundred day moving average price of $224.93.
Tesla (NASDAQ:TSLA – Get Free Report) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm 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 firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. Research analysts predict that Tesla, Inc. will post 1.99 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.
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