Wiser Advisor Group LLC Cuts Stake in Tesla, Inc. (NASDAQ:TSLA)

Wiser Advisor Group LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 10.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,234 shares of the electric vehicle producer’s stock after selling 150 shares during the quarter. Wiser Advisor Group LLC’s holdings in Tesla were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of TSLA. Transcendent Capital Group LLC purchased a new position in Tesla in the 3rd quarter worth approximately $29,000. Bank & Trust Co bought a new position in Tesla in the second quarter valued at about $25,000. Clean Yield Group boosted its position in Tesla by 60.0% in the third 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 last quarter. Abich Financial Wealth Management LLC grew its stake in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Finally, Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the second quarter worth approximately $26,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $2.79 during mid-day trading on Monday, hitting $349.77. The stock had a trading volume of 19,615,025 shares, compared to its average volume of 95,467,813. The company has a 50 day moving average of $264.07 and a two-hundred day moving average of $226.79. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $361.93. 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 firm has a market cap of $1.12 trillion, a PE ratio of 96.59, a PEG ratio of 11.45 and a beta of 2.29.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TSLA shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Glj Research reiterated a “sell” rating and issued a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Canaccord Genuity Group raised their price objective 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. Guggenheim upped their target price on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a report on Thursday, October 24th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research note on Wednesday, October 23rd. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $230.18.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is owned by insiders.

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.