WealthPlan Investment Management LLC Sells 501 Shares of Tesla, Inc. (NASDAQ:TSLA)

WealthPlan Investment Management LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,606 shares of the electric vehicle producer’s stock after selling 501 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Tesla were worth $2,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Harbour Investments Inc. raised its position in Tesla by 0.9% in the third quarter. Harbour Investments Inc. now owns 24,855 shares of the electric vehicle producer’s stock valued at $6,503,000 after purchasing an additional 227 shares during the last quarter. Entropy Technologies LP bought a new position in Tesla in the 3rd quarter valued at approximately $2,642,000. Everhart Financial Group Inc. boosted its position in Tesla by 15.5% during the 3rd quarter. Everhart Financial Group Inc. now owns 14,208 shares of the electric vehicle producer’s stock worth $3,717,000 after buying an additional 1,903 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Tesla by 20.7% during the third quarter. Venturi Wealth Management LLC now owns 16,130 shares of the electric vehicle producer’s stock valued at $4,220,000 after acquiring an additional 2,764 shares during the last quarter. Finally, Core Wealth Partners LLC lifted its holdings in shares of Tesla by 30.7% during the third quarter. Core Wealth Partners LLC now owns 2,572 shares of the electric vehicle producer’s stock worth $673,000 after purchasing an additional 604 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSLA has been the subject of several analyst reports. Stifel Nicolaus raised their target price on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research report on Wednesday, July 24th. Morgan Stanley reissued an “overweight” rating and set a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Guggenheim boosted their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $225.06.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,442,856.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares of the company’s stock, valued at $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,797 shares of company stock worth $19,211,821. 20.70% of the stock is owned by company insiders.

Tesla Trading Up 9.0 %

NASDAQ:TSLA opened at $350.00 on Tuesday. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $358.64. The firm has a 50-day moving average price of $243.90 and a two-hundred day moving average price of $217.03. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a market cap of $1.12 trillion, a price-to-earnings ratio of 95.89, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the business posted $0.53 earnings per share. Tesla’s revenue was up 7.8% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 1.96 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.