Acorn Financial Advisory Services Inc. ADV Reduces Stake in Tesla, Inc. (NASDAQ:TSLA)

Acorn Financial Advisory Services Inc. ADV lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 8,043 shares of the electric vehicle producer’s stock after selling 391 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Tesla were worth $2,104,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter worth approximately $25,000. Clean Yield Group grew its holdings in shares of Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Valley Wealth Managers Inc. acquired a new position in Tesla during the second quarter worth about $26,000. Finally, M&R Capital Management Inc. raised its holdings in Tesla by 263.2% in the 3rd quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSLA has been the subject of a number of recent analyst reports. Roth Mkm restated a “neutral” rating and set a $85.00 price target on shares of Tesla in a report on Friday, October 11th. HSBC reaffirmed a “reduce” rating and issued a $124.00 price target on shares of Tesla in a research report on Friday, October 11th. Jefferies Financial Group boosted their target price on shares of Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Guggenheim increased their price target on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research note on Thursday, October 24th. Finally, KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price for the company in a research report on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average price target of $222.03.

Tesla Stock Performance

NASDAQ TSLA traded up $24.31 on Friday, hitting $321.22. The stock had a trading volume of 204,782,763 shares, compared to its average volume of 94,883,055. The company’s 50-day moving average is $241.18 and its two-hundred day moving average is $214.90. The stock has a market cap of $1.03 trillion, a price-to-earnings ratio of 88.01, a P/E/G ratio of 9.51 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a one year low of $138.80 and a one year high of $328.71.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. On average, analysts expect that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,442,856.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock worth $19,211,821 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

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.