Thrive Wealth Management LLC Has $1.84 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Thrive Wealth Management LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.5% during the 4th quarter, Holdings Channel reports. The fund owned 4,564 shares of the electric vehicle producer’s stock after selling 368 shares during the period. Thrive Wealth Management LLC’s holdings in Tesla were worth $1,843,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Commonwealth Financial Services LLC grew its stake in Tesla by 11.2% during the second quarter. Commonwealth Financial Services LLC now owns 945 shares of the electric vehicle producer’s stock worth $187,000 after buying an additional 95 shares in the last quarter. Mill Creek Capital Advisors LLC grew its holdings in shares of Tesla by 0.5% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 25,772 shares of the electric vehicle producer’s stock valued at $5,100,000 after purchasing an additional 119 shares during the last quarter. Semmax Financial Advisors Inc. increased its position in Tesla by 9.5% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 921 shares of the electric vehicle producer’s stock worth $191,000 after purchasing an additional 80 shares in the last quarter. Strata Wealth Advisors LLC lifted its stake in Tesla by 9.2% in the 2nd quarter. Strata Wealth Advisors LLC now owns 2,280 shares of the electric vehicle producer’s stock valued at $451,000 after purchasing an additional 193 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Tesla by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after acquiring an additional 206,248 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 0.6 %

TSLA opened at $424.07 on Wednesday. The firm has a market capitalization of $1.36 trillion, a PE ratio of 116.18, a P/E/G ratio of 8.60 and a beta of 2.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $488.54. The company’s 50-day moving average is $391.47 and its 200 day moving average is $290.05.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 2.01 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $2,222,802. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 621,886 shares of company stock valued at $213,451,751. 20.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TSLA. Cantor Fitzgerald upped their price objective on Tesla from $255.00 to $365.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. UBS Group upped their price target on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a research report on Monday, November 25th. Roth Capital raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Finally, Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and upped their price target for the company from $85.00 to $380.00 in a research report on Monday, December 2nd. Nine equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $304.94.

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.