Insight Wealth Strategies LLC Sells 75 Shares of Tesla, Inc. (NASDAQ:TSLA)

Insight Wealth Strategies LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,730 shares of the electric vehicle producer’s stock after selling 75 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Tesla were worth $714,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Clean Yield Group raised its stake in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 48 shares in the last quarter. Advance Capital Management Inc. raised its position in Tesla by 6.7% during the 3rd quarter. Advance Capital Management Inc. now owns 3,131 shares of the electric vehicle producer’s stock valued at $819,000 after purchasing an additional 197 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of Tesla by 3.5% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 88,241 shares of the electric vehicle producer’s stock worth $23,087,000 after buying an additional 2,973 shares during the period. Axiom Advisory LLC grew its position in shares of Tesla by 12.2% during the 3rd quarter. Axiom Advisory LLC now owns 63,040 shares of the electric vehicle producer’s stock worth $16,493,000 after buying an additional 6,844 shares in the last quarter. Finally, Sherrill & Hutchins Financial Advisory Inc increased 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 valued at $800,000 after buying an additional 43 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 1.5 %

NASDAQ TSLA opened at $244.50 on Wednesday. The company has a fifty day moving average of $224.18 and a 200 day moving average of $202.26. The company has a market capitalization of $781.09 billion, a PE ratio of 62.37, a P/E/G ratio of 6.80 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company 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 quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. Research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on TSLA shares. William Blair assumed coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating for the company. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Stifel Nicolaus started coverage on shares of Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a report on Wednesday, July 24th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $120.00 price target on shares of Tesla in a report on Monday, July 1st. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $210.90.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, 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. Insiders have sold 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 company insiders.

Tesla 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.