Invst LLC Has $880,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Invst LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 45.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,363 shares of the electric vehicle producer’s stock after selling 2,825 shares during the period. Invst LLC’s holdings in Tesla were worth $880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. Connable Office Inc. raised its stake in shares of Tesla by 0.3% during the 3rd quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after purchasing an additional 38 shares in the last quarter. Community Bank N.A. raised its position in Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock valued at $238,000 after acquiring an additional 38 shares in the last quarter. Holistic Financial Partners lifted its stake in Tesla by 1.0% in the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after acquiring an additional 40 shares during the last quarter. Integris Wealth Management LLC lifted its stake in Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after acquiring an additional 42 shares during the last quarter. Finally, Sherrill & Hutchins Financial Advisory Inc grew its position in Tesla by 1.4% in the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’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 sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 7.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 522,886 shares of company stock worth $171,393,831 in the last quarter. 20.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TSLA. Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Piper Sandler upped their price target on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group raised their price objective on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, October 24th. Finally, Canaccord Genuity Group lifted their price target on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Nine equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $257.36.

Tesla Stock Up 2.9 %

NASDAQ TSLA opened at $400.99 on Wednesday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $409.73. 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 stock’s 50 day moving average is $288.09 and its two-hundred day moving average is $240.67. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 109.86, a PEG ratio of 12.64 and a beta of 2.36.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The firm had revenue of $25.18 billion for 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 business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. Equities analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

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.