GLOBALT Investments LLC GA Sells 451 Shares of Tesla, Inc. (NASDAQ:TSLA)

GLOBALT Investments LLC GA decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.6% in the 3rd quarter, Holdings Channel reports. The fund owned 12,009 shares of the electric vehicle producer’s stock after selling 451 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Tesla were worth $3,142,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank & Trust Co bought a new position in shares of Tesla during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the 2nd quarter valued at about $26,000. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Tesla during the 3rd quarter valued at about $29,000. Finally, Clean Yield Group increased its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. HSBC reaffirmed a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Wolfe Research initiated coverage on Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. lifted their price objective on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Roth Mkm restated a “neutral” rating and set a $85.00 price target on shares of Tesla in a research report on Friday, October 11th. Finally, Piper Sandler boosted their target price on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $230.18.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock worth $57,616,781 in the last 90 days. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Up 3.1 %

Shares of NASDAQ TSLA opened at $320.72 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.03 trillion, a PE ratio of 87.87, a price-to-earnings-growth ratio of 10.42 and a beta of 2.29. The stock’s fifty day simple moving average is $252.30 and its two-hundred day simple moving average is $221.01. 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 for the quarter, topping 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 firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter last year, the firm earned $0.53 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

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.