J.W. Cole Advisors Inc. Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

J.W. Cole Advisors Inc. cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 14.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,784 shares of the electric vehicle producer’s stock after selling 5,051 shares during the period. J.W. Cole Advisors Inc.’s holdings in Tesla were worth $8,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares during the last quarter. Morse Asset Management Inc raised its position in shares of Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after buying an additional 3,462 shares during the period. NewEdge Advisors LLC lifted its holdings in Tesla by 12.9% in the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after acquiring an additional 27,130 shares during the last quarter. Entropy Technologies LP purchased a new position in Tesla in the first quarter worth approximately $1,941,000. Finally, Symmetry Investments LP increased its stake in Tesla by 326.6% during the second quarter. Symmetry Investments LP now owns 8,536 shares of the electric vehicle producer’s stock worth $1,689,000 after acquiring an additional 6,535 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. Stifel Nicolaus upped their price target on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research note on Friday. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and upped their target price for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Truist Financial lifted their price target on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $219.00.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now 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. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Up 3.3 %

TSLA traded up $8.71 on Friday, reaching $269.19. The company’s stock had a trading volume of 161,611,931 shares, compared to its average volume of 94,680,352. The company has a market capitalization of $858.50 billion, a price-to-earnings ratio of 68.67, a P/E/G ratio of 6.24 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $230.53 and a two-hundred day moving average of $207.67.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the prior year, the business posted $0.53 EPS. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts forecast 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.