Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,940 shares of the electric vehicle producer’s stock after selling 5,195 shares during the period. Tesla accounts for about 0.6% of Perigon Wealth Management LLC’s holdings, making the stock its 28th biggest holding. Perigon Wealth Management LLC’s holdings in Tesla were worth $22,223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank & Trust Co acquired a new stake in shares of Tesla during the second quarter valued at about $25,000. Clean Yield Group increased its position 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 valued at $33,000 after acquiring an additional 48 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in shares of Tesla by 168.8% during the second 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. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla during the second quarter valued at about $26,000. Finally, M&R Capital Management Inc. increased its position in shares of Tesla by 263.2% during the third 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 currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TSLA shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Monday, October 7th. HSBC reissued a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. TD Cowen raised their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research note on Wednesday, July 24th. Finally, Royal Bank of Canada raised their price objective on shares of Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $210.72.

Tesla Stock Down 1.2 %

Shares of NASDAQ:TSLA traded down $2.75 during trading on Thursday, hitting $218.58. 15,204,498 shares of the company were exchanged, compared to its average volume of 94,412,266. The stock has a market capitalization of $698.28 billion, a P/E ratio of 62.17, a PEG ratio of 5.94 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The firm’s 50 day moving average price is $226.81 and its 200-day moving average price is $204.69.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. On average, research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction 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 owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction 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 owns 67,491 shares in the company, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 in the last 90 days. 20.70% of the stock is owned by insiders.

Tesla Company 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.