Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Vivid Wealth Management LLC

Vivid Wealth Management LLC lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,773 shares of the electric vehicle producer’s stock after selling 395 shares during the quarter. Tesla comprises 2.0% of Vivid Wealth Management LLC’s portfolio, making the stock its 11th largest position. Vivid Wealth Management LLC’s holdings in Tesla were worth $3,865,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of TSLA. Vanguard Group Inc. grew its position in shares of Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after purchasing an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in shares of Tesla by 21,816.0% during the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. Finally, ARK Investment Management LLC grew its stake in Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 0.9 %

Shares of NASDAQ:TSLA traded up $2.36 during trading on Monday, reaching $271.55. 44,318,066 shares of the company traded hands, compared to its average volume of 94,442,133. The firm has a fifty day simple moving average of $230.53 and a 200 day simple moving average of $207.92. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.54. The firm has a market cap of $871.69 billion, a P/E ratio of 74.77, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $25.47 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TSLA. Citigroup lowered their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target for the company in a report on Friday, July 5th. Canaccord Genuity Group increased their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wolfe Research started coverage on Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $219.00.

Insiders Place Their Bets

In other Tesla 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 owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 20.70% of the company’s stock.

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.