Advisors Management Group Inc. ADV Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

Advisors Management Group Inc. ADV lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.6% in the third quarter, Holdings Channel reports. The firm owned 1,442 shares of the electric vehicle producer’s stock after selling 70 shares during the period. Advisors Management Group Inc. ADV’s holdings in Tesla were worth $377,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TSLA. International Assets Investment Management LLC grew its stake in Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares in the last quarter. Clean Energy Transition LLP grew its stake in Tesla by 347.7% during 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 acquiring an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in Tesla by 21,816.0% during the 2nd 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 acquiring an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. grew its stake in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after acquiring an additional 1,479,378 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 60,500 shares of the stock in a transaction 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 sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,797 shares of company stock worth $19,211,821 in the last 90 days. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TSLA. Wolfe Research began coverage on shares of Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Phillip Securities upgraded shares of Tesla to a “moderate sell” rating in a report on Friday, October 25th. Piper Sandler boosted their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $295.00 target price on shares of Tesla in a report on Tuesday, September 10th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $219.45.

Tesla Trading Up 14.8 %

NASDAQ TSLA opened at $288.53 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The firm’s fifty day moving average price is $237.23 and its 200 day moving average price is $213.07. The company has a market capitalization of $926.20 billion, a price-to-earnings ratio of 79.05, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $289.59.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

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.