Thrive Wealth Management LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 14.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,644 shares of the electric vehicle producer’s stock after selling 603 shares during the period. Thrive Wealth Management LLC’s holdings in Tesla were worth $954,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Alpha Paradigm Partners LLC acquired a new position in Tesla in the third quarter valued at approximately $27,000. GW&K Investment Management LLC acquired a new stake in Tesla during the 1st quarter worth $30,000. St. Johns Investment Management Company LLC lifted its position in Tesla by 451.9% in the first quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock valued at $31,000 after acquiring an additional 122 shares during the last quarter. Worth Asset Management LLC purchased a new stake in shares of Tesla in the 1st quarter valued at about $111,000. Finally, Magellan Asset Management Ltd acquired a new position in Tesla during the first quarter worth approximately $34,000. 41.87% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $242.53, for a total value of $2,546,565.00. Following the sale, the senior vice president now directly owns 66,834 shares of the company’s stock, valued at $16,209,250.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $242.53, for a total transaction of $2,546,565.00. Following the sale, the senior vice president now owns 66,834 shares of the company’s stock, valued at $16,209,250.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 1,065 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the transaction, the senior vice president now directly owns 59,540 shares of the company’s stock, valued at $14,862,374.80. The disclosure for this sale can be found here. Insiders have sold 55,815 shares of company stock valued at $14,384,135 over the last quarter. Insiders own 20.90% of the company’s stock.
Tesla Price Performance
Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, topping the consensus estimate of $0.69 by $0.22. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The company had revenue of $24.93 billion during the quarter, compared to analyst estimates of $24.22 billion. During the same quarter last year, the firm earned $0.65 EPS. The business’s revenue was up 47.2% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 2.94 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the stock. UBS Group began coverage on shares of Tesla in a research note on Tuesday, September 12th. They set a “neutral” rating and a $290.00 target price for the company. Barclays cut shares of Tesla from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $220.00 to $260.00 in a research note on Wednesday, June 21st. Mizuho upped their target price on shares of Tesla from $300.00 to $330.00 in a research report on Thursday, July 20th. JPMorgan Chase & Co. lifted their price target on shares of Tesla from $115.00 to $120.00 and gave the company an “underweight” rating in a research report on Monday, July 3rd. Finally, Canaccord Genuity Group upped their price target on Tesla from $257.00 to $293.00 and gave the stock a “buy” rating in a report on Monday, July 3rd. Six analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $239.43.
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.
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