Tesla, Inc. $TSLA Shares Sold by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 18,879 shares of the electric vehicle producer’s stock after selling 1,038 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in Tesla were worth $8,396,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Chapman Financial Group LLC purchased a new position in Tesla during the 2nd quarter worth approximately $26,000. Chelsea Counsel Co. increased its stake in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the period. LGT Financial Advisors LLC purchased a new position in shares of Tesla during the second quarter worth $29,000. CoreFirst Bank & Trust acquired a new position in Tesla during the second quarter valued at $30,000. Finally, ESL Trust Services LLC boosted its holdings in Tesla by 1,900.0% in the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 95 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TSLA shares. Stifel Nicolaus boosted their price objective on Tesla from $483.00 to $508.00 and gave the company a “buy” rating in a report on Monday, November 17th. Mizuho upped their price objective on Tesla from $475.00 to $530.00 and gave the stock an “outperform” rating in a research report on Tuesday. President Capital raised their price objective on shares of Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. William Blair reiterated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Finally, Melius Research set a $520.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $400.86.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 56,820 shares of Tesla stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the sale, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $443.93, for a total value of $1,170,643.41. Following the completion of the transaction, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 19.90% of the company’s stock.

Tesla Stock Performance

TSLA opened at $489.88 on Wednesday. The firm’s fifty day simple moving average is $437.09 and its two-hundred day simple moving average is $378.24. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $491.50. The company has a market cap of $1.63 trillion, a price-to-earnings ratio of 326.59, a PEG ratio of 11.88 and a beta of 1.87. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.