Private Advisory Group LLC Has $12.41 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Private Advisory Group LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 21.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,428 shares of the electric vehicle producer’s stock after selling 13,001 shares during the period. Tesla makes up approximately 1.5% of Private Advisory Group LLC’s investment portfolio, making the stock its 14th largest position. Private Advisory Group LLC’s holdings in Tesla were worth $12,409,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank & Trust Co acquired a new position in shares of Tesla in the second quarter valued at about $25,000. Clean Yield Group lifted its position in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Abich Financial Wealth Management LLC lifted its position in Tesla by 168.8% during the second 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. Valley Wealth Managers Inc. bought a new stake in Tesla during the second quarter worth about $26,000. Finally, M&R Capital Management Inc. lifted its position in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

NASDAQ:TSLA opened at $238.77 on Friday. The company has a market capitalization of $762.78 billion, a PE ratio of 67.07, a P/E/G ratio of 6.54 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 quick ratio of 1.40 and a current ratio of 1.91. The company has a 50 day simple moving average of $225.23 and a two-hundred day simple moving average of $203.30.

Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the business earned $0.78 EPS. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on 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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’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 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 is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,661 shares of company stock valued at $16,663,291. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Barclays cut their price objective on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, July 25th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, October 3rd. KGI Securities reissued a “neutral” rating and issued a $236.00 target price on shares of Tesla in a report on Thursday, July 25th. Finally, Truist Financial increased their target price on shares of Tesla from $215.00 to $236.00 and gave the stock a “hold” rating in a report on Thursday, October 3rd. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $210.90.

Read Our Latest Report 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.

Featured Articles