Invictus Private Wealth LLC Decreases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Invictus Private Wealth LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,653 shares of the electric vehicle producer’s stock after selling 148 shares during the quarter. Invictus Private Wealth LLC’s holdings in Tesla were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Bank & Trust Co bought a new position in shares of Tesla in the 2nd quarter worth approximately $25,000. Clean Yield Group lifted its stake in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the 2nd quarter worth approximately $26,000. Finally, M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 3.5 %

Shares of TSLA opened at $251.44 on Wednesday. The company has a market cap of $807.14 billion, a PE ratio of 68.89, a P/E/G ratio of 8.01 and a beta of 2.29. The business has a fifty day moving average of $235.57 and a 200 day moving average of $212.54. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its 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 return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same period last year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 1.96 EPS for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,797 shares of company stock worth $19,211,821. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent research reports. William Blair initiated coverage on shares of Tesla in a research note on Thursday, August 29th. They issued an “outperform” rating on the stock. Truist Financial increased their target price on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. The Goldman Sachs Group increased their target price on shares of Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Citigroup reduced their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Finally, Argus reissued a “buy” rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $219.45.

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.