By otakuyassine3@gmail.com 
Abound Wealth Management lowered its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,497 shares of the electric vehicle producer’s stock after selling 602 shares during the period. Tesla comprises 2.3% of Abound Wealth Management’s investment portfolio, making the stock its 13th biggest position. Abound Wealth Management’s holdings in Tesla were worth $7,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Oppenheimer Asset Management Inc. boosted its position in shares of Tesla by 112.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,857 shares of the electric vehicle producer’s stock worth $7,095,000 after acquiring an additional 18,953 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Tesla by 20.2% in the second quarter. Envestnet Asset Management Inc. now owns 1,101,923 shares of the electric vehicle producer’s stock valued at $218,048,000 after purchasing an additional 185,335 shares during the last quarter. Inspire Advisors LLC raised its holdings in Tesla by 23.4% during the second quarter. Inspire Advisors LLC now owns 2,012 shares of the electric vehicle producer’s stock worth $398,000 after purchasing an additional 382 shares in the last quarter. Williams Financial LLC purchased a new stake in shares of Tesla during the 2nd quarter worth approximately $2,867,000. Finally, Seven Mile Advisory grew its position in shares of Tesla by 23.6% in the 2nd quarter. Seven Mile Advisory now owns 2,557 shares of the electric vehicle producer’s stock valued at $506,000 after buying an additional 489 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.
Insider Buying and Selling
In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 621,886 shares of company stock valued at $213,451,751. Insiders own 20.70% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Roth Mkm raised shares of Tesla from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Jefferies Financial Group upped their target price on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, October 3rd. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Nine research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $296.60.
Get Our Latest Stock Report on TSLA
Tesla Price Performance
Shares of Tesla stock traded down $2.04 during trading on Monday, hitting $392.70. 53,607,610 shares of the company were exchanged, compared to its average volume of 79,029,883. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average price of $376.60 and a 200 day moving average price of $281.84. The stock has a market capitalization of $1.26 trillion, a price-to-earnings ratio of 107.59, a P/E/G ratio of 10.80 and a beta of 2.30.
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 (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 company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same period in the prior year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 1.99 earnings per share 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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