Mather Group LLC. Sells 30,174 Shares of Tesla, Inc. (NASDAQ:TSLA)

Mather Group LLC. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 72.7% in the 3rd quarter, Holdings Channel reports. The firm owned 11,332 shares of the electric vehicle producer’s stock after selling 30,174 shares during the quarter. Mather Group LLC.’s holdings in Tesla were worth $2,965,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Green Alpha Advisors LLC boosted its stake in Tesla by 2.9% during the third quarter. Green Alpha Advisors LLC now owns 4,424 shares of the electric vehicle producer’s stock valued at $1,157,000 after buying an additional 125 shares during the period. Bank of New Hampshire raised its holdings in shares of Tesla by 16.7% in the 3rd quarter. Bank of New Hampshire now owns 420 shares of the electric vehicle producer’s stock valued at $110,000 after acquiring an additional 60 shares in the last quarter. Foster Group Inc. boosted its position in shares of Tesla by 2.2% during the 3rd quarter. Foster Group Inc. now owns 5,050 shares of the electric vehicle producer’s stock valued at $1,321,000 after acquiring an additional 109 shares during the last quarter. Prentice Wealth Management LLC grew its holdings in shares of Tesla by 9.4% during the third quarter. Prentice Wealth Management LLC now owns 2,212 shares of the electric vehicle producer’s stock worth $579,000 after purchasing an additional 190 shares in the last quarter. Finally, Parisi Gray Wealth Management increased its position in shares of Tesla by 3.9% in the third quarter. Parisi Gray Wealth Management now owns 10,778 shares of the electric vehicle producer’s stock worth $2,820,000 after purchasing an additional 401 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated Friday, September 6th. The stock was 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 in the company, 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. In the last ninety days, insiders sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is owned by company insiders.

Tesla Trading Up 1.5 %

Tesla stock opened at $244.50 on Wednesday. The business has a 50-day simple moving average of $224.18 and a two-hundred day simple moving average of $202.26. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The company has a market cap of $781.09 billion, a P/E ratio of 62.37, a P/E/G ratio of 6.80 and a beta of 2.29.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on TSLA. Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 price target on shares of Tesla in a research note on Monday, July 1st. Royal Bank of Canada increased their target price on Tesla from $224.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and issued a $120.00 target price on shares of Tesla in a research report on Thursday, October 3rd. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $210.90.

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.