Invst LLC Has $880,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Invst LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 45.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,363 shares of the electric vehicle producer’s stock after selling 2,825 shares during the quarter. Invst LLC’s holdings in Tesla were worth $880,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Connable Office Inc. lifted its position in Tesla by 0.3% during 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. Community Bank N.A. raised its stake in shares of Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after buying an additional 38 shares during the last quarter. Holistic Financial Partners boosted its stake in Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after acquiring an additional 40 shares during the last quarter. Integris Wealth Management LLC grew its holdings in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the period. Finally, Sherrill & Hutchins Financial Advisory Inc raised its position 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 acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSLA. Phillip Securities cut Tesla from a “moderate sell” rating to a “strong sell” rating in a report on Wednesday, November 13th. The Goldman Sachs Group increased their target price on shares of Tesla from $250.00 to $345.00 and gave the stock a “neutral” rating in a report on Wednesday. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Capital upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $257.36.

Tesla Stock Up 2.9 %

TSLA stock opened at $400.99 on Wednesday. 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 $409.73. The company has a market cap of $1.29 trillion, a PE ratio of 109.86, a price-to-earnings-growth ratio of 12.64 and a beta of 2.36. The business has a 50-day simple moving average of $288.09 and a 200 day simple moving average of $240.67.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of the 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 completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 522,886 shares of company stock worth $171,393,831 over the last quarter. Corporate 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.