Golden State Equity Partners Sells 173 Shares of Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

Golden State Equity Partners reduced its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 1.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 10,874 shares of the electric vehicle producer’s stock after selling 173 shares during the quarter. Golden State Equity Partners’ holdings in Tesla were worth $2,845,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bank & Trust Co bought a new stake in Tesla in the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its stake 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 valued at $26,000 after buying an additional 81 shares in the last quarter. Clean Yield Group lifted its stake in shares of Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. grew its stake in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group lowered Tesla from a “neutral” rating to a “sell” rating and raised their price target for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Canaccord Genuity Group upped their price target on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Jefferies Financial Group raised their price objective on shares of Tesla from $165.00 to $195.00 and gave the company a “hold” rating in a research report on Monday, October 21st. Mizuho upped their target price on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Finally, Citigroup decreased their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $219.45.

Check Out Our Latest Analysis on TSLA

Tesla Stock Down 1.3 %

Shares of TSLA traded down $3.42 during trading hours on Wednesday, hitting $256.10. The company had a trading volume of 3,234,183 shares, compared to its average volume of 94,243,117. The stock has a market capitalization of $822.10 billion, a price-to-earnings ratio of 71.10, a P/E/G ratio of 7.59 and a beta of 2.29. The firm has a fifty day moving average price of $232.09 and a 200-day moving average price of $209.16. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 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 $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction 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 $14,967,479.07. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 12,297 shares of company stock valued at $3,065,866. 20.70% of the stock is owned by insiders.

Tesla 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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