C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Sells 1,589 Shares of Tesla, Inc. (NASDAQ:TSLA)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lowered its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 27.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,152 shares of the electric vehicle producer’s stock after selling 1,589 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Tesla were worth $1,086,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Bank & Trust Co purchased a new stake in Tesla in the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the 2nd quarter valued at $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 increased its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Finally, M&R Capital Management Inc. raised its holdings 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 valued at $36,000 after acquiring an additional 100 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $295.00 target price on shares of Tesla in a research note on Tuesday, September 10th. Barclays lowered their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Truist Financial raised their target price on shares of Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a research note on Thursday, October 3rd. Wells Fargo & Company reiterated an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research note on Monday, July 1st. Finally, TD Cowen raised their price objective on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. 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 company’s stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $210.90.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly 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 74,661 shares of company stock worth $16,663,291 over the last quarter. Insiders own 25.10% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $241.05 on Thursday. 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 moving average price of $224.61 and a 200-day moving average price of $202.78. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The stock has a market capitalization of $770.07 billion, a PE ratio of 61.49, a PEG ratio of 6.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results 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 company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. Equities analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

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.