Mill Creek Capital Advisors LLC Sells 294 Shares of Tesla, Inc. (NASDAQ:TSLA)

Mill Creek Capital Advisors LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,478 shares of the electric vehicle producer’s stock after selling 294 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Tesla were worth $6,666,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TSLA. China Universal Asset Management Co. Ltd. raised its position in Tesla by 0.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock valued at $6,399,000 after purchasing an additional 331 shares in the last quarter. M&G Plc bought a new stake in shares of Tesla in the first quarter valued at about $2,509,000. Catalytic Wealth RIA LLC purchased a new stake in Tesla in the first quarter worth about $732,000. Covestor Ltd grew its holdings in Tesla by 28.4% during the 1st quarter. Covestor Ltd now owns 1,606 shares of the electric vehicle producer’s stock worth $282,000 after acquiring an additional 355 shares in the last quarter. Finally, Resurgent Financial Advisors LLC increased its position in Tesla by 60.1% during the 1st quarter. Resurgent Financial Advisors LLC now owns 5,267 shares of the electric vehicle producer’s stock valued at $926,000 after purchasing an additional 1,978 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TSLA. William Blair started coverage on shares of Tesla in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Bank of America increased their target price on Tesla from $265.00 to $350.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Argus restated a “buy” rating and set a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Finally, Barclays lifted their target price on Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $230.18.

Tesla Price Performance

NASDAQ:TSLA opened at $320.72 on Friday. The firm’s fifty day moving average is $252.30 and its two-hundred day moving average is $220.72. The firm has a market cap of $1.03 trillion, a price-to-earnings ratio of 87.87, a PEG ratio of 10.42 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. Research analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,797 shares of company stock valued at $57,616,781 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

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.