Semus Wealth Partners LLC Lowers Stake in Tesla, Inc. (NASDAQ:TSLA)

Semus Wealth Partners LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 12.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,042 shares of the electric vehicle producer’s stock after selling 2,153 shares during the quarter. Tesla accounts for approximately 2.8% of Semus Wealth Partners LLC’s holdings, making the stock its 6th largest position. Semus Wealth Partners LLC’s holdings in Tesla were worth $3,935,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter valued at $29,000. Bank & Trust Co bought a new position in shares of Tesla during the 2nd quarter valued at $25,000. Clean Yield Group lifted its holdings in shares of Tesla by 60.0% during the 3rd 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 period. Abich Financial Wealth Management LLC lifted its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after buying an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter valued at $26,000. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TSLA shares. Jefferies Financial Group upped their price objective on Tesla from $195.00 to $300.00 and gave the stock a “hold” rating in a research note on Thursday. KGI Securities upgraded Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a research note on Thursday, October 24th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company upped their price objective on Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Nine 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $230.18.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’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 sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock valued at $57,616,781 over the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla Stock Up 6.3 %

Shares of NASDAQ:TSLA opened at $340.95 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. The company has a 50-day moving average price of $252.30 and a 200 day moving average price of $221.01. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 87.87, a PEG ratio of 10.42 and a beta of 2.29.

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

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.