Tesla, Inc. $TSLA Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,128 shares of the electric vehicle producer’s stock after selling 37 shares during the period. Linscomb Wealth Inc.’s holdings in Tesla were worth $1,311,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. First Merchants Corp raised its position in shares of Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after buying an additional 31 shares during the period. Alaska Wealth Advisors raised its position in shares of Tesla by 3.4% in the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after buying an additional 32 shares during the period. KWB Wealth raised its position in shares of Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after buying an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. raised its position in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after buying an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. raised its position in shares of Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Up 3.7%

Shares of Tesla stock opened at $456.56 on Friday. The business has a 50-day moving average of $410.52 and a 200-day moving average of $347.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The company has a market capitalization of $1.52 trillion, a PE ratio of 304.37, a P/E/G ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of several research reports. Industrial Alliance Securities set a $300.00 target price on Tesla in a research report on Monday, October 13th. New Street Research increased their target price on Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Melius Research set a $520.00 price objective on Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. Glj Research reissued a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. Finally, Wall Street Zen raised Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $388.51.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. Corporate insiders own 19.90% of the company’s stock.

Tesla Profile

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.