Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Montz Harcus Wealth Management LLC

Montz Harcus Wealth Management LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,946 shares of the electric vehicle producer’s stock after selling 159 shares during the quarter. Montz Harcus Wealth Management LLC’s holdings in Tesla were worth $509,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after acquiring an additional 206,248 shares in the last quarter. Morse Asset Management Inc grew its position in shares of Tesla by 138.1% in the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after acquiring an additional 3,462 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of Tesla by 12.9% in the 2nd quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after acquiring an additional 27,130 shares in the last quarter. Entropy Technologies LP acquired a new position in shares of Tesla in the 1st quarter worth approximately $1,941,000. Finally, Symmetry Investments LP grew its position in shares of Tesla by 326.6% in the 2nd quarter. Symmetry Investments LP now owns 8,536 shares of the electric vehicle producer’s stock worth $1,689,000 after acquiring an additional 6,535 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents 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 accessible through the SEC website. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’s 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 completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Stock Up 3.3 %

TSLA traded up $8.71 during trading on Friday, reaching $269.19. 161,611,931 shares of the stock traded hands, compared to its average volume of 94,680,352. The stock has a market cap of $858.50 billion, a price-to-earnings ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock’s 50-day simple moving average is $230.53 and its two-hundred day simple moving average is $207.67.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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. The firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TSLA shares. StockNews.com raised Tesla from a “sell” rating to a “hold” rating in a report on Thursday. Guggenheim raised their price target on Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 target price on shares of Tesla in a research note on Tuesday, August 20th. TD Cowen lifted their target price on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Finally, Wells Fargo & Company lifted their target price on Tesla from $120.00 to $125.00 and gave the company an “underweight” rating in a research note on Thursday. Eight investment 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. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $219.00.

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.