Financial Counselors Inc. Sells 698 Shares of Tesla, Inc. (NASDAQ:TSLA)

Financial Counselors Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 182,452 shares of the electric vehicle producer’s stock after selling 698 shares during the quarter. Financial Counselors Inc.’s holdings in Tesla were worth $47,735,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TSLA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Noesis Capital Mangement Corp raised its position in Tesla by 0.9% during the 3rd quarter. Noesis Capital Mangement Corp now owns 33,515 shares of the electric vehicle producer’s stock valued at $8,769,000 after purchasing an additional 285 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Tesla by 65.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 344,463 shares of the electric vehicle producer’s stock worth $90,122,000 after buying an additional 136,340 shares during the period. Fiduciary Trust Co grew its position in shares of Tesla by 15.5% in the 3rd quarter. Fiduciary Trust Co now owns 10,594 shares of the electric vehicle producer’s stock worth $2,772,000 after buying an additional 1,425 shares during the last quarter. Finally, National Wealth Management Group LLC increased its stake in shares of Tesla by 92.8% during the third quarter. National Wealth Management Group LLC now owns 4,925 shares of the electric vehicle producer’s stock valued at $1,289,000 after buying an additional 2,371 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred 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 transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the 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 sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 301,187 shares of company stock valued at $92,956,692. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 1.6 %

Tesla stock opened at $332.89 on Thursday. The business has a 50-day simple moving average of $270.63 and a two-hundred day simple moving average of $229.89. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $361.93. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $1.07 trillion, a P/E ratio of 91.20, a P/E/G ratio of 11.00 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released 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. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.53 earnings per share. Analysts predict that Tesla, Inc. will post 1.99 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TSLA shares. UBS Group lifted their price target on shares of Tesla from $197.00 to $226.00 and gave the company a “sell” rating in a report on Monday. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Canaccord Genuity Group raised their price objective on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com upgraded Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, William Blair started coverage on Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. 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 MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $231.06.

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.