Tesla, Inc. (NASDAQ:TSLA) Stake Decreased by Evolution Wealth Advisors LLC

Evolution Wealth Advisors LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 20.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,768 shares of the electric vehicle producer’s stock after selling 1,239 shares during the quarter. Evolution Wealth Advisors LLC’s holdings in Tesla were worth $1,247,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter valued at $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in shares of Tesla in the third quarter valued at approximately $29,000. Finally, Clean Yield Group increased its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $320.72 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. 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 company has a market cap of $1.03 trillion, a P/E ratio of 87.87, a P/E/G ratio of 10.73 and a beta of 2.29. The business’s 50 day moving average is $252.30 and its two-hundred day moving average is $220.46.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. On average, equities analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TSLA. Wells Fargo & Company increased their price target on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Truist Financial increased their target price on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Stifel Nicolaus boosted their price objective on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, HSBC reissued a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Nine 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $230.18.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.44 % 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 shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. The trade was 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 sold 188,797 shares of company stock worth $57,616,781. Company insiders own 20.70% of the company’s stock.

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.