Great Valley Advisor Group Inc. Cuts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Great Valley Advisor Group Inc. trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 39,405 shares of the electric vehicle producer’s stock after selling 2,170 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Tesla were worth $10,309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank & Trust Co purchased a new position in shares of Tesla in the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted 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 worth $26,000 after purchasing an additional 81 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Tesla during the third quarter worth $29,000. Finally, Clean Yield Group increased its stake in shares of 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 acquiring an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction 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 transaction, the senior vice president now directly owns 67,491 shares in the company, 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. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Jefferies Financial Group raised their target price on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Argus reaffirmed a “buy” rating and issued a $286.00 price target on shares of Tesla in a research note on Friday, July 26th. Piper Sandler upped their target price on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Glj Research restated a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Thursday, October 17th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $230.18.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $352.56 on Friday. The company’s fifty day moving average is $264.07 and its two-hundred day moving average is $226.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market capitalization of $1.13 trillion, a P/E ratio of 96.59, a PEG ratio of 11.03 and a beta of 2.29. Tesla, Inc. has a one year low of $138.80 and a one year high of $361.53.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. 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 previous year, the company earned $0.53 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. Analysts forecast 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.