Tesla Inc (NASDAQ:TSLA) Shares Sold by ACG Wealth

ACG Wealth lessened its holdings in Tesla Inc (NASDAQ:TSLA) by 40.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,580 shares of the electric vehicle producer’s stock after selling 1,072 shares during the period. ACG Wealth’s holdings in Tesla were worth $539,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Pittenger & Anderson Inc. boosted its stake in Tesla by 20.0% in the second quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after acquiring an additional 50 shares during the last quarter. Winfield Associates Inc. boosted its position in shares of Tesla by 85.2% during the second quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after purchasing an additional 150 shares in the last quarter. North Star Investment Management Corp. boosted its position in shares of Tesla by 2.8% during the second quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after purchasing an additional 9 shares in the last quarter. Carroll Financial Associates Inc. boosted its position in shares of Tesla by 8.7% during the second quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after purchasing an additional 28 shares in the last quarter. Finally, Cornerstone Advisors Inc. boosted its position in shares of Tesla by 2.3% during the second quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock worth $145,000 after purchasing an additional 9 shares in the last quarter. 55.71% of the stock is owned by institutional investors.

In related news, Director Kimbal Musk sold 2,190 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $355.20, for a total transaction of $777,888.00. Following the transaction, the director now directly owns 158,584 shares of the company’s stock, valued at $56,329,036.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Eric Branderiz sold 1,736 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $302.31, for a total transaction of $524,810.16. Following the transaction, the vice president now directly owns 1,736 shares in the company, valued at $524,810.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,741 shares of company stock worth $3,579,311. Insiders own 23.10% of the company’s stock.

TSLA has been the topic of a number of recent analyst reports. Vetr cut shares of Tesla from a “strong-buy” rating to a “buy” rating and set a $385.74 price target on the stock. in a research report on Thursday, August 3rd. Sanford C. Bernstein set a $265.00 price objective on shares of Tesla and gave the stock a “neutral” rating in a report on Wednesday, September 20th. Royal Bank Of Canada raised their price objective on shares of Tesla from $314.00 to $345.00 and gave the stock a “sector perform” rating in a report on Thursday, August 3rd. Guggenheim reiterated a “buy” rating and issued a $430.00 price target on shares of Tesla in a research note on Thursday, August 10th. Finally, Evercore ISI lowered their price target on shares of Tesla from $330.00 to $312.00 and set an “outperform” rating on the stock in a research note on Sunday, October 29th. Ten analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. Tesla has a consensus rating of “Hold” and a consensus price target of $329.87.

Shares of Tesla Inc (NASDAQ TSLA) traded up $2.95 during midday trading on Friday, reaching $315.55. 3,242,220 shares of the company’s stock traded hands, compared to its average volume of 6,992,537. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66. Tesla Inc has a 1 year low of $180.00 and a 1 year high of $389.61.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, November 1st. The electric vehicle producer reported ($2.92) EPS for the quarter, beating the Zacks’ consensus estimate of ($3.09) by $0.17. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period in the prior year, the firm posted $0.71 EPS. The company’s quarterly revenue was up 29.9% on a year-over-year basis. research analysts expect that Tesla Inc will post -11.38 earnings per share for the current year.

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About Tesla

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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