Beaton Management Co. Inc. Sells 1,300 Shares of Tesla, Inc. (NASDAQ:TSLA)

Beaton Management Co. Inc. lessened its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,881 shares of the electric vehicle producer’s stock after selling 1,300 shares during the quarter. Beaton Management Co. Inc.’s holdings in Tesla were worth $1,015,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank & Trust Co purchased a new position in shares of Tesla during the 2nd quarter worth $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla in the second quarter worth about $26,000. Abich Financial Wealth Management LLC grew its stake in shares of Tesla by 168.8% during 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 period. Transcendent Capital Group LLC purchased a new stake in Tesla in the 3rd quarter worth approximately $29,000. Finally, Clean Yield Group lifted its holdings in 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 purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s 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 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 0.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the transaction, the director now owns 5,400 shares in the company, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock worth $57,616,781 in the last quarter. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. Glj Research restated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research report on Thursday, October 17th. Wolfe Research assumed coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Argus restated a “buy” rating and issued a $286.00 price target on shares of Tesla in a research note on Friday, July 26th. Finally, William Blair initiated coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $230.18.

Tesla Price Performance

TSLA stock opened at $320.72 on Friday. The stock has a market cap of $1.03 trillion, a PE ratio of 87.87, a P/E/G ratio of 10.42 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. The company has a 50-day moving average price of $252.30 and a 200 day moving average price of $220.72. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.