Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Syntegra Private Wealth Group LLC

Syntegra Private Wealth Group LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,633 shares of the electric vehicle producer’s stock after selling 93 shares during the period. Syntegra Private Wealth Group LLC’s holdings in Tesla were worth $427,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. Strategic Financial Concepts LLC lifted its position in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the period. ARK Investment Management LLC lifted its position in Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock valued at $1,051,613,000 after purchasing an additional 135,966 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Tesla by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock valued at $981,443,000 after acquiring an additional 412,872 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Down 0.9 %

Tesla stock traded down $1.90 during trading on Wednesday, reaching $216.07. 12,054,146 shares of the company’s stock were exchanged, compared to its average volume of 93,486,125. The company’s 50-day moving average is $228.30 and its two-hundred day moving average is $206.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The firm has a market cap of $689.09 billion, a price-to-earnings ratio of 55.60, a PEG ratio of 6.31 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same period last year, the company posted $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the 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 transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 74,661 shares of company stock valued at $16,663,291. Company insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Monday, October 7th. Citigroup reduced their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. The Goldman Sachs Group reiterated a “neutral” rating and set a $230.00 price target on shares of Tesla in a research report on Friday, October 11th. Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Finally, Wedbush reiterated an “outperform” rating and set a $300.00 price target on shares of Tesla in a research report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $211.63.

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.