Beaton Management Co. Inc. Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Beaton Management Co. Inc. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 25.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,881 shares of the electric vehicle producer’s stock after selling 1,300 shares during the quarter. Beaton Management Co. Inc.’s holdings in Tesla were worth $1,015,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Transcendent Capital Group LLC bought a new stake in Tesla during the 3rd quarter valued at $29,000. Bank & Trust Co purchased a new stake in shares of Tesla during the 2nd quarter worth $25,000. Clean Yield Group boosted its position in 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 purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC grew its stake in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Finally, Valley Wealth Managers Inc. bought a new position in Tesla in the second quarter worth about $26,000. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. William Blair began coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Citigroup dropped their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $230.18.

Insider Activity

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. The trade was a 94.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 188,797 shares of company stock worth $57,616,781 over the last 90 days. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of Tesla stock opened at $320.72 on Friday. The firm has a market cap of $1.03 trillion, a PE ratio of 87.87, a P/E/G ratio of 10.42 and a beta of 2.29. The business has a 50-day moving average price of $252.30 and a 200 day moving average price of $220.72. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $358.64.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.53 EPS. Sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.