Pathway Financial Advisors LLC Reduces Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Pathway Financial Advisors LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 36.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,202 shares of the electric vehicle producer’s stock after selling 675 shares during the quarter. Pathway Financial Advisors LLC’s holdings in Tesla were worth $315,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of TSLA. Integris Wealth Management LLC increased its holdings in Tesla by 1.0% during the 2nd 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 increased its holdings in Tesla by 1.4% during the 3rd 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 increased its holdings in Tesla by 0.7% during the 2nd 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 increased its holdings in Tesla by 3.2% during the 2nd 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 increased its holdings in Tesla by 1.6% during the 2nd 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. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 1.5 %

Shares of NASDAQ TSLA opened at $244.50 on Wednesday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The company has a market cap of $781.09 billion, a price-to-earnings ratio of 62.37, a P/E/G ratio of 6.80 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $224.18 and a 200-day simple moving average of $202.26.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling

In related 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 directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This 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 this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’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 completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,661 shares of company stock valued at $16,663,291. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TSLA shares. Morgan Stanley restated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Guggenheim upped their price target on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research report on Friday, September 13th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday. KGI Securities reissued a “neutral” rating and set a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $210.90.

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.