Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,709 shares of the electric vehicle producer’s stock after selling 300 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Tesla were worth $2,279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Soltis Investment Advisors LLC increased its position in shares of Tesla by 0.8% during the 3rd quarter. Soltis Investment Advisors LLC now owns 12,004 shares of the electric vehicle producer’s stock worth $3,141,000 after purchasing an additional 96 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in Tesla by 6.8% during the third quarter. Rehmann Capital Advisory Group now owns 16,951 shares of the electric vehicle producer’s stock worth $4,435,000 after buying an additional 1,086 shares during the period. TD Private Client Wealth LLC increased its position in shares of Tesla by 4.5% during the third quarter. TD Private Client Wealth LLC now owns 11,046 shares of the electric vehicle producer’s stock valued at $2,890,000 after acquiring an additional 475 shares during the last quarter. Fortem Financial Group LLC lifted its holdings in shares of Tesla by 8.3% in the 3rd quarter. Fortem Financial Group LLC now owns 23,058 shares of the electric vehicle producer’s stock worth $6,033,000 after acquiring an additional 1,766 shares during the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in shares of Tesla during the 3rd quarter worth approximately $4,084,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $400.99 on Wednesday. The company has a market cap of $1.29 trillion, a PE ratio of 109.86, a P/E/G ratio of 12.64 and a beta of 2.36. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $409.73. The company has a fifty day moving average price of $288.09 and a two-hundred day moving average price of $240.67. 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 announced its quarterly earnings data 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. 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 quarter in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the sale, the director now owns 5,400 shares of the company’s stock, valued at $1,868,508. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 522,886 shares of company stock worth $171,393,831. 20.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TSLA shares. Truist Financial boosted their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Guggenheim raised their price target on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. Phillip Securities downgraded shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Finally, Jefferies Financial Group boosted their price objective on shares of Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Nine equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $257.36.

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.