Palo Alto Wealth Advisors LLC Has $314,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Palo Alto Wealth Advisors LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,200 shares of the electric vehicle producer’s stock after selling 36 shares during the period. Palo Alto Wealth Advisors LLC’s holdings in Tesla were worth $314,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TSLA. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Tesla by 0.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after acquiring an additional 331 shares in the last quarter. Kingsview Wealth Management LLC raised its holdings in Tesla by 0.5% in the 1st quarter. Kingsview Wealth Management LLC now owns 34,682 shares of the electric vehicle producer’s stock valued at $6,097,000 after buying an additional 157 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in Tesla by 12.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 77,359 shares of the electric vehicle producer’s stock worth $13,599,000 after buying an additional 8,534 shares during the period. Private Portfolio Partners LLC grew its holdings in Tesla by 21.0% during the 1st quarter. Private Portfolio Partners LLC now owns 2,077 shares of the electric vehicle producer’s stock worth $365,000 after acquiring an additional 360 shares during the last quarter. Finally, Brighton Jones LLC raised its stake in shares of Tesla by 19.5% during the first quarter. Brighton Jones LLC now owns 72,529 shares of the electric vehicle producer’s stock valued at $12,750,000 after acquiring an additional 11,826 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA traded down $12.35 during trading hours on Thursday, reaching $317.89. 43,051,711 shares of the company’s stock traded hands, compared to its average volume of 95,592,930. The firm’s 50 day simple moving average is $248.48 and its 200-day simple moving average is $218.94. The stock has a market cap of $1.02 trillion, a PE ratio of 87.07, a price-to-earnings-growth ratio of 10.67 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the firm posted $0.53 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Citigroup decreased their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Wedbush boosted their price target on shares of Tesla from $300.00 to $400.00 and gave the stock an “outperform” rating in a research report on Monday. Royal Bank of Canada lifted their target price on shares of Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Finally, The Goldman Sachs Group boosted their target price on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Eight research 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $228.24.

Insiders Place Their Bets

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other 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 transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 5,400 shares in the company, valued at $1,868,508. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 188,797 shares of company stock valued at $57,616,781. 20.70% of the stock is currently owned by corporate insiders.

Tesla 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.