Ritholtz Wealth Management Sells 655 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ritholtz Wealth Management trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,320 shares of the electric vehicle producer’s stock after selling 655 shares during the quarter. Ritholtz Wealth Management’s holdings in Tesla were worth $9,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Code Waechter LLC purchased a new position in shares of Tesla during the third quarter valued at approximately $206,000. Guinness Atkinson Asset Management Inc raised its stake in Tesla by 15.6% during the third quarter. Guinness Atkinson Asset Management Inc now owns 1,550 shares of the electric vehicle producer’s stock valued at $406,000 after buying an additional 209 shares during the last quarter. Silverlake Wealth Management LLC raised its stake in Tesla by 2.6% during the third quarter. Silverlake Wealth Management LLC now owns 3,034 shares of the electric vehicle producer’s stock valued at $794,000 after buying an additional 76 shares during the last quarter. Perfromance Wealth Partners LLC grew its stake in shares of Tesla by 3.5% in the third quarter. Perfromance Wealth Partners LLC now owns 10,994 shares of the electric vehicle producer’s stock worth $2,876,000 after acquiring an additional 368 shares during the last quarter. Finally, Octavia Wealth Advisors LLC increased its holdings in shares of Tesla by 3.9% during the third quarter. Octavia Wealth Advisors LLC now owns 8,411 shares of the electric vehicle producer’s stock valued at $2,201,000 after acquiring an additional 316 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TSLA shares. 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. Wedbush reiterated an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday. Finally, Barclays reduced their target price on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, July 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $210.72.

Insiders Place Their Bets

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on 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 in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, 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 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’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 completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 in the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Trading Down 8.8 %

TSLA traded down $20.97 during trading on Friday, reaching $217.80. The company had a trading volume of 142,628,874 shares, compared to its average volume of 95,239,352. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. The stock has a market cap of $695.79 billion, a P/E ratio of 61.18, a PEG ratio of 6.54 and a beta of 2.29. The business has a 50 day simple moving average of $225.43 and a 200-day simple moving average of $203.61.

Tesla (NASDAQ:TSLA) last posted 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). The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 1.75 EPS 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.