Tesla, Inc. (NASDAQ:TSLA) Shares Sold by EWG Elevate Inc.

EWG Elevate Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,510 shares of the electric vehicle producer’s stock after selling 207 shares during the quarter. EWG Elevate Inc.’s holdings in Tesla were worth $918,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Green Alpha Advisors LLC lifted its holdings in Tesla by 2.9% in the 3rd quarter. Green Alpha Advisors LLC now owns 4,424 shares of the electric vehicle producer’s stock worth $1,157,000 after buying an additional 125 shares in the last quarter. Bank of New Hampshire lifted its stake in shares of Tesla by 16.7% in the third quarter. Bank of New Hampshire now owns 420 shares of the electric vehicle producer’s stock worth $110,000 after acquiring an additional 60 shares in the last quarter. Foster Group Inc. lifted its stake in shares of Tesla by 2.2% in the third quarter. Foster Group Inc. now owns 5,050 shares of the electric vehicle producer’s stock worth $1,321,000 after acquiring an additional 109 shares in the last quarter. Prentice Wealth Management LLC boosted its holdings in Tesla by 9.4% in the third quarter. Prentice Wealth Management LLC now owns 2,212 shares of the electric vehicle producer’s stock valued at $579,000 after purchasing an additional 190 shares during the last quarter. Finally, Parisi Gray Wealth Management increased its holdings in Tesla by 3.9% during the 3rd quarter. Parisi Gray Wealth Management now owns 10,778 shares of the electric vehicle producer’s stock worth $2,820,000 after purchasing an additional 401 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSLA. HSBC increased their target price on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Roth Mkm reiterated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research note on Wednesday, July 24th. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a research report on Wednesday, July 24th. Mizuho boosted their price objective on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Monday. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $210.54.

Tesla Stock Performance

TSLA stock traded down $9.25 during midday trading on Monday, hitting $240.83. The stock had a trading volume of 67,862,059 shares, compared to its average volume of 95,409,727. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $224.00 and a 200 day simple moving average of $201.78. The firm has a market capitalization of $768.05 billion, a price-to-earnings ratio of 61.44, a P/E/G ratio of 6.79 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Tesla, Inc. will post 1.74 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tesla 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 transaction of $65,865.69. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, 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 disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 in the last 90 days. 25.10% of the stock is currently owned by insiders.

Tesla Company 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.