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

by · The Markets Daily

Montz Harcus Wealth Management LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Several other large investors have also modified their holdings of the stock. Integris Wealth Management LLC raised its stake 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 worth $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its stake 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 worth $800,000 after purchasing an additional 43 shares during the last quarter. Echo Wealth Management LLC raised its stake in shares of Tesla by 0.7% during the second 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 during the last quarter. WASHINGTON TRUST Co raised its stake in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC raised its stake in shares of Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.3 %

NASDAQ TSLA traded up $8.71 during trading hours on Friday, hitting $269.19. 161,611,931 shares of the company’s stock were exchanged, compared to its average volume of 94,680,352. The business’s 50 day moving average is $230.53 and its 200-day moving average is $207.67. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The firm has a market capitalization of $858.50 billion, a P/E ratio of 68.67, a price-to-earnings-growth ratio of 6.24 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA – Get Free Report) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the 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 owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the 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 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 position. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Truist Financial upped their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday. Citigroup dropped their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group upped their price objective on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday. Eight 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, Tesla has a consensus rating of “Hold” and a consensus target price of $219.00.

Check Out Our Latest Analysis on Tesla

Tesla Company Profile

(Free Report)

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.

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