Liberty Wealth Management LLC Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Liberty Wealth Management LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,878 shares of the electric vehicle producer’s stock after selling 7,412 shares during the quarter. Liberty Wealth Management LLC’s holdings in Tesla were worth $4,678,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock worth $19,211,821 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Phillip Securities upgraded Tesla to a “moderate sell” rating in a research report on Friday, October 25th. Canaccord Genuity Group increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays boosted their target price on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price target on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada upped their price objective on Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $222.03.

Tesla Stock Up 8.2 %

Shares of NASDAQ:TSLA opened at $321.22 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $328.71. 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 firm has a market cap of $1.03 trillion, a PE ratio of 88.01, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29. The company has a fifty day simple moving average of $241.18 and a 200 day simple moving average of $214.90.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, equities research analysts anticipate 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.