M Holdings Securities Inc. Sells 2,375 Shares of Tesla, Inc. (NASDAQ:TSLA)

M Holdings Securities Inc. lowered its stake in Tesla, Inc. (NASDAQ:TSLA) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,291 shares of the electric vehicle producer’s stock after selling 2,375 shares during the period. Tesla accounts for about 1.4% of M Holdings Securities Inc.’s holdings, making the stock its 18th largest holding. M Holdings Securities Inc.’s holdings in Tesla were worth $5,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Transcendent Capital Group LLC purchased a new position in shares of Tesla in the third quarter worth approximately $29,000. Bank & Trust Co purchased a new position in shares of Tesla in the second quarter valued at about $25,000. Clean Yield Group grew its holdings in Tesla by 60.0% during the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Tesla in the second quarter worth about $26,000. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Truist Financial boosted their price objective on Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Barclays increased their price objective on Tesla from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Guggenheim upped their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research report on Thursday, October 24th. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus increased their price objective on Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a report on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $230.18.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $352.56 on Friday. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $361.53. The business has a 50 day moving average price of $264.07 and a 200 day moving average price of $226.09. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 96.59, a PEG ratio of 11.03 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 (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the prior year, the business posted $0.53 earnings per share. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current year.

Insiders Place Their Bets

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 stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 301,187 shares of company stock valued at $92,956,692. 20.70% of the stock is currently owned by corporate insiders.

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.