Great Valley Advisor Group Inc. Sells 2,170 Shares of Tesla, Inc. (NASDAQ:TSLA)

Great Valley Advisor Group Inc. decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,405 shares of the electric vehicle producer’s stock after selling 2,170 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Tesla were worth $10,309,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in shares of Tesla by 35,611.2% during the third 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. Clean Energy Transition LLP boosted its position in shares of Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after acquiring an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC increased its position in Tesla by 21,816.0% in 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. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after purchasing an additional 1,479,378 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Tesla by 11.9% in the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after buying an additional 1,294,093 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in 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. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research note on Thursday, October 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price target on shares of Tesla in a report on Wednesday, October 23rd. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Wolfe Research initiated coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating for the company. Nine 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 company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $230.18.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 301,187 shares of company stock worth $92,956,692. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 3.8 %

NASDAQ:TSLA opened at $352.56 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average is $264.07 and its two-hundred day moving average is $226.09. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $361.53. The company has a market cap of $1.13 trillion, a PE ratio of 96.59, a P/E/G ratio of 11.03 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 10.24% and a net margin of 13.07%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. Analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current 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.