Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.3% in the third quarter, HoldingsChannel.com reports. The fund owned 111,130 shares of the electric vehicle producer’s stock after selling 348 shares during the quarter. Tesla accounts for 1.5% of Reynders McVeigh Capital Management LLC’s portfolio, making the stock its 24th biggest position. Reynders McVeigh Capital Management LLC’s holdings in Tesla were worth $29,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Connable Office Inc. boosted its stake in Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after acquiring an additional 38 shares during the period. Community Bank N.A. boosted its stake in Tesla by 4.4% in the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after acquiring an additional 38 shares during the period. Holistic Financial Partners raised its holdings in shares of Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares during the last quarter. Integris Wealth Management LLC raised its holdings in shares of 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 last quarter. Finally, Sherrill & Hutchins Financial Advisory Inc raised its holdings in shares of Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TSLA shares. Glj Research reaffirmed a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Wolfe Research assumed coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Wedbush reissued an “outperform” rating and set a $400.00 target price on shares of Tesla in a report on Monday, November 18th. Finally, Guggenheim boosted their target price on Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $243.75.

Tesla Trading Down 1.6 %

Tesla stock opened at $351.42 on Wednesday. The company’s fifty day simple moving average is $278.63 and its 200-day simple moving average is $235.10. 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 12 month low of $138.80 and a 12 month high of $361.93. The stock has a market cap of $1.13 trillion, a P/E ratio of 96.28, a P/E/G ratio of 11.60 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $25.47 billion. During the same period in the previous year, the company posted $0.53 EPS. Tesla’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The transaction 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 business’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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 301,187 shares of company stock worth $92,956,692. Corporate insiders own 20.70% of the company’s stock.

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.