Stephens Inc. AR Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Stephens Inc. AR decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,212 shares of the electric vehicle producer’s stock after selling 3,711 shares during the quarter. Stephens Inc. AR’s holdings in Tesla were worth $13,922,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Integris Wealth Management LLC grew its position in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc grew its position in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after acquiring an additional 43 shares during the period. Echo Wealth Management LLC increased its stake in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares in the last quarter. WASHINGTON TRUST Co increased its position in Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC raised its stake in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after acquiring an additional 45 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,297 shares of company stock worth $3,065,866 over the last three months. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised their price target on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Barclays increased their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Royal Bank of Canada raised their target price on shares of Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Phillip Securities raised shares of Tesla to a “moderate sell” rating in a report on Friday, October 25th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $219.45.

Tesla Stock Performance

TSLA stock opened at $248.98 on Friday. 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 business has a 50-day moving average price of $234.14 and a 200 day moving average price of $210.39. The company has a market capitalization of $799.24 billion, a P/E ratio of 68.21, a PEG ratio of 8.24 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm 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 firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 1.96 EPS 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.