Salomon & Ludwin LLC Sells 55 Shares of Tesla, Inc. (NASDAQ:TSLA)

Salomon & Ludwin LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA) by 4.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,256 shares of the electric vehicle producer’s stock after selling 55 shares during the quarter. Salomon & Ludwin LLC’s holdings in Tesla were worth $329,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. First Financial Bankshares Inc boosted its holdings in Tesla by 2.8% in the 3rd quarter. First Financial Bankshares Inc now owns 8,305 shares of the electric vehicle producer’s stock valued at $2,173,000 after purchasing an additional 226 shares during the period. OMNI 360 Wealth Inc. raised its position in shares of Tesla by 7.8% in the third quarter. OMNI 360 Wealth Inc. now owns 2,747 shares of the electric vehicle producer’s stock worth $719,000 after buying an additional 198 shares in the last quarter. Ellis Investment Partners LLC purchased a new position in Tesla during the third quarter worth about $222,000. Essex Financial Services Inc. increased its stake in Tesla by 0.4% in the 3rd quarter. Essex Financial Services Inc. now owns 33,273 shares of the electric vehicle producer’s stock worth $8,705,000 after acquiring an additional 144 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Tesla by 5.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 368,854 shares of the electric vehicle producer’s stock valued at $96,502,000 after acquiring an additional 20,325 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research report on Tuesday, September 10th. Glj Research reaffirmed a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Thursday, October 17th. Bank of America raised their price target on Tesla from $255.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a report on Friday, October 11th. Finally, The Goldman Sachs Group raised their price objective on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $219.00.

Tesla Price Performance

Shares of TSLA stock opened at $269.19 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a market cap of $864.12 billion, a price-to-earnings ratio of 73.75, a PEG ratio of 7.59 and a beta of 2.29. The business’s fifty day moving average is $230.53 and its 200 day moving average is $207.92. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the company posted $0.53 EPS. Tesla’s revenue was up 7.8% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $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 can be accessed through this link. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 20.70% of the stock is currently owned by company 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.