Global Wealth Management Investment Advisory Inc. Reduces Position in Tesla, Inc. (NASDAQ:TSLA)

Global Wealth Management Investment Advisory Inc. trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,854 shares of the electric vehicle producer’s stock after selling 135 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Tesla were worth $1,270,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Bank & Trust Co purchased a new stake in shares of Tesla in the second quarter valued at approximately $25,000. Clean Yield Group raised its holdings 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 valued at $33,000 after purchasing an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the period. Valley Wealth Managers Inc. purchased a new position in shares of Tesla in the 2nd quarter valued at $26,000. Finally, M&R Capital Management Inc. raised its position 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 acquiring an additional 100 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s 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 owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were 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 owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,297 shares of company stock worth $4,072,906. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock traded up $9.38 on Tuesday, reaching $252.22. The company’s stock had a trading volume of 8,931,762 shares, compared to its average volume of 93,662,000. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $273.54. The company has a market capitalization of $809.64 billion, a P/E ratio of 66.53, a PEG ratio of 8.21 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average price of $234.73 and a 200-day moving average price of $211.81.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping 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 company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 1.96 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on TSLA shares. Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Truist Financial raised their price target on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a report on Thursday, October 24th. Canaccord Genuity Group increased 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. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Finally, HSBC reaffirmed a “reduce” rating and issued a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company 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.