FMA Wealth Management LLC Sells 100 Shares of Tesla, Inc. (NASDAQ:TSLA)

FMA Wealth Management LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 9.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 988 shares of the electric vehicle producer’s stock after selling 100 shares during the quarter. FMA Wealth Management LLC’s holdings in Tesla were worth $258,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bank & Trust Co bought a new position in Tesla in the second quarter worth $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla during the second quarter worth about $26,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Clean Yield Group raised its stake in 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 buying an additional 48 shares during the last quarter. Finally, M&R Capital Management Inc. raised its position in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 0.2 %

Shares of NASDAQ TSLA traded up $0.41 during midday trading on Tuesday, hitting $219.57. The company’s stock had a trading volume of 62,881,626 shares, compared to its average volume of 95,034,305. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The firm has a market cap of $700.25 billion, a P/E ratio of 56.14, a price-to-earnings-growth ratio of 6.48 and a beta of 2.29. The business’s 50 day moving average is $225.84 and its two-hundred day moving average is $204.27. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Transactions at Tesla

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 other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 target price on shares of Tesla in a report on Tuesday, August 20th. New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research report on Wednesday, July 24th. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a report on Friday, July 5th. Barclays lowered their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Finally, Stifel Nicolaus started coverage on Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $210.72.

Tesla Company 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.