Tesla Inc (TSLA) Shares Sold by Envestnet Asset Management Inc.
Envestnet Asset Management Inc. lowered its position in Tesla Inc (NASDAQ:TSLA) by 72.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 740 shares of the electric vehicle producer’s stock after selling 1,946 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Tesla were worth $252,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its position in Tesla by 29.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 985 shares of the electric vehicle producer’s stock worth $356,000 after purchasing an additional 222 shares in the last quarter. Alps Advisors Inc. purchased a new stake in Tesla during the 2nd quarter worth about $300,000. BB&T Securities LLC increased its position in Tesla by 89.4% during the 2nd quarter. BB&T Securities LLC now owns 1,926 shares of the electric vehicle producer’s stock worth $696,000 after purchasing an additional 909 shares in the last quarter. Boston Private Wealth LLC purchased a new stake in Tesla during the 2nd quarter worth about $240,000. Finally, Meiji Yasuda Asset Management Co Ltd. increased its position in Tesla by 11.2% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,683 shares of the electric vehicle producer’s stock worth $609,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 57.12% of the company’s stock.
In other Tesla news, VP Eric Branderiz sold 1,736 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $302.31, for a total value of $524,810.16. Following the transaction, the vice president now directly owns 1,736 shares of the company’s stock, valued at approximately $524,810.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP John Douglas Field sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $340.67, for a total value of $476,938.00. Following the completion of the transaction, the vice president now directly owns 21,528 shares in the company, valued at $7,333,943.76. The disclosure for this sale can be found here. Insiders have sold a total of 12,817 shares of company stock worth $4,171,699 over the last three months. 23.10% of the stock is currently owned by corporate insiders.
Several analysts have commented on TSLA shares. ValuEngine upgraded Tesla from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the company a “hold” rating in a report on Monday, November 13th. Barclays restated a “sell” rating on shares of Tesla in a report on Sunday, October 15th. Royal Bank of Canada lowered their price target on Tesla from $345.00 to $340.00 and set a “sector perform” rating for the company in a report on Thursday, November 2nd. Finally, Vetr upgraded Tesla from a “strong sell” rating to a “sell” rating and set a $282.88 price target for the company in a report on Thursday, November 2nd. Thirteen research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $331.43.
Tesla Inc (NASDAQ:TSLA) opened at $325.20 on Tuesday. The company has a market capitalization of $54,660.00, a P/E ratio of -37.99 and a beta of 0.95. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 1.66. Tesla Inc has a 52-week low of $207.71 and a 52-week high of $389.61.
Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) EPS for the quarter, topping the consensus estimate of ($3.09) by $0.17. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. Tesla had a negative return on equity of 50.61% and a negative net margin of 22.49%. Tesla’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. analysts predict that Tesla Inc will post -11.38 earnings per share for the current fiscal year.
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.
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