Golden Road Advisors LLC Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

Golden Road Advisors LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 960 shares of the electric vehicle producer’s stock after selling 43 shares during the quarter. Golden Road Advisors LLC’s holdings in Tesla were worth $251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Integris Wealth Management LLC raised its position in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its position in shares of Tesla by 1.4% during the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after purchasing an additional 43 shares during the last quarter. Echo Wealth Management LLC grew its holdings in Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after buying an additional 44 shares during the last quarter. WASHINGTON TRUST Co increased its position in Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after buying an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC increased its position in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the 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 of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’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 completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,297 shares of company stock valued at $3,065,866 over the last quarter. 20.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TSLA. Bank of America upped their price objective on shares of Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. UBS Group downgraded Tesla from a “neutral” rating to a “sell” rating and increased their price target for the company from $147.00 to $197.00 in a report on Friday, July 12th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Morgan Stanley restated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada boosted their price objective on Tesla from $236.00 to $249.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $219.45.

Tesla Stock Down 3.0 %

TSLA opened at $249.85 on Friday. The company has a fifty day moving average price of $233.56 and a 200-day moving average price of $209.78. Tesla, Inc. has a one year low of $138.80 and a one year high of $273.54. The firm has a market capitalization of $802.03 billion, a P/E ratio of 68.45, a price-to-earnings-growth ratio of 8.49 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.

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 net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts expect that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

About Tesla

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.