WP Advisors LLC Sells 824 Shares of Tesla, Inc. (NASDAQ:TSLA)

WP Advisors LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 16.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,112 shares of the electric vehicle producer’s stock after selling 824 shares during the quarter. WP Advisors LLC’s holdings in Tesla were worth $1,076,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. grew its holdings in shares of Tesla by 0.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after purchasing an additional 331 shares during the last quarter. Trustmark National Bank Trust Department acquired a new stake in shares of Tesla during the first quarter worth approximately $219,000. PAX Financial Group LLC raised its stake in shares of Tesla by 9.2% in the first quarter. PAX Financial Group LLC now owns 3,276 shares of the electric vehicle producer’s stock valued at $576,000 after acquiring an additional 277 shares during the last quarter. Safeguard Investment Advisory Group LLC boosted its holdings in shares of Tesla by 27.8% in the 1st quarter. Safeguard Investment Advisory Group LLC now owns 6,329 shares of the electric vehicle producer’s stock worth $1,113,000 after acquiring an additional 1,375 shares in the last quarter. Finally, Hilltop Partners LLC grew its position in Tesla by 25.4% during the 1st quarter. Hilltop Partners LLC now owns 6,084 shares of the electric vehicle producer’s stock worth $1,069,000 after acquiring an additional 1,231 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on TSLA shares. Bank of America boosted their price objective on Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Canaccord Genuity Group upped their price target on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Wedbush increased their price objective on Tesla from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research report on Wednesday, October 23rd. Nine investment 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 data from MarketBeat, the company has an average rating of “Hold” and an average price target of $230.18.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $320.72 on Monday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $358.64. The stock has a market capitalization 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 current ratio of 1.84 and a quick ratio of 1.37. The business has a 50-day moving average of $252.30 and a 200-day moving average of $221.01.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. The trade was a 94.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $36,761,200. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,797 shares of company stock worth $57,616,781. Company insiders own 20.70% of the company’s stock.

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.