Wealth Architects LLC Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wealth Architects LLC trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,982 shares of the electric vehicle producer’s stock after selling 390 shares during the period. Wealth Architects LLC’s holdings in Tesla were worth $1,827,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. raised its position in Tesla by 0.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after purchasing an additional 331 shares during the period. Empirical Finance LLC boosted its position in shares of Tesla by 4.5% during the first quarter. Empirical Finance LLC now owns 78,230 shares of the electric vehicle producer’s stock valued at $13,752,000 after purchasing an additional 3,395 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Tesla by 23.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 75,851 shares of the electric vehicle producer’s stock worth $13,334,000 after acquiring an additional 14,191 shares in the last quarter. Motive Wealth Advisors lifted its holdings in shares of Tesla by 174.1% during the first quarter. Motive Wealth Advisors now owns 3,843 shares of the electric vehicle producer’s stock valued at $676,000 after purchasing an additional 2,441 shares during the last quarter. Finally, AIA Group Ltd raised its stake in Tesla by 3.4% during the first quarter. AIA Group Ltd now owns 74,754 shares of the electric vehicle producer’s stock valued at $13,141,000 after buying an additional 2,484 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Tesla from $120.00 to $125.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Mizuho upped their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Thursday, October 24th. 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 report on Thursday, October 24th. Finally, Piper Sandler boosted their target price on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Eight analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $219.45.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the 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 completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares of the company’s stock, valued at approximately $391,164,540.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,797 shares of company stock worth $19,211,821 in the last three months. 20.70% of the stock is owned by insiders.

Tesla Trading Up 14.8 %

NASDAQ TSLA opened at $288.53 on Thursday. Tesla, Inc. has a one year low of $138.80 and a one year high of $289.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market capitalization of $926.20 billion, a price-to-earnings ratio of 79.05, a price-to-earnings-growth ratio of 8.01 and a beta of 2.29. The company’s 50-day simple moving average is $237.23 and its two-hundred day simple moving average is $213.07.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. Equities analysts forecast that Tesla, Inc. will post 1.96 EPS for the current fiscal 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.