TrinityPoint Wealth LLC Has $1.36 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

TrinityPoint Wealth LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 9.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,185 shares of the electric vehicle producer’s stock after selling 536 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Tesla were worth $1,356,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in TSLA. Transcendent Capital Group LLC acquired a new position in shares of Tesla during the third quarter valued at about $29,000. Bank & Trust Co acquired a new position in Tesla in the 2nd quarter valued at approximately $25,000. Clean Yield Group lifted its position in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after acquiring an additional 48 shares during the period. Abich Financial Wealth Management LLC grew 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 worth $26,000 after purchasing an additional 81 shares in the last quarter. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the second quarter valued at approximately $26,000. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 3.1 %

NASDAQ TSLA opened at $320.72 on Monday. The company has a market cap of $1.03 trillion, a PE ratio of 87.87, a PEG ratio of 10.42 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. The stock has a 50 day moving average of $252.30 and a 200-day moving average of $221.01. 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 (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 analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSLA. Royal Bank of Canada lifted their price target on shares of Tesla from $249.00 to $313.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial boosted their price target on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Wednesday, October 23rd. Argus reaffirmed a “buy” rating and set a $286.00 price target on shares of Tesla in a report on Friday, July 26th. Finally, Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Friday, October 11th. 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. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $230.18.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $350.00, for a total value of $1,400,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % 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 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.