New England Capital Financial Advisors LLC Trims Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

New England Capital Financial Advisors LLC reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,165 shares of the electric vehicle producer’s stock after selling 66 shares during the period. New England Capital Financial Advisors LLC’s holdings in Tesla were worth $305,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Tesla by 60.2% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after purchasing an additional 206,248 shares during the period. Gladstone Institutional Advisory LLC increased its stake in Tesla by 6.5% during the third quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock worth $11,349,000 after purchasing an additional 2,664 shares during the period. Morse Asset Management Inc grew its position in shares of Tesla by 138.1% during the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after buying an additional 3,462 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Tesla by 34.1% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,166 shares of the electric vehicle producer’s stock worth $1,087,000 after buying an additional 1,059 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Tesla by 12.9% during the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock worth $46,858,000 after buying an additional 27,130 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ TSLA opened at $243.88 on Monday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54. The company has a market capitalization of $782.87 billion, a P/E ratio of 68.21, a PEG ratio of 8.24 and a beta of 2.29. The business has a 50 day moving average price of $234.14 and a 200 day moving average price of $211.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm 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 EPS. Tesla’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts expect that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Guggenheim boosted their price objective on Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research report on Thursday, October 24th. Robert W. Baird reissued an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Tuesday, August 20th. Stifel Nicolaus boosted their price objective on Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average price target of $219.45.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. 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 disclosure for this sale can be found here. Insiders sold 12,297 shares of company stock valued at $3,065,866 in the last ninety days. Corporate insiders own 20.70% of the company’s stock.

About Tesla

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.