LJI Wealth Management LLC Sells 105 Shares of Tesla, Inc. (NASDAQ:TSLA)

LJI Wealth Management LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,870 shares of the electric vehicle producer’s stock after selling 105 shares during the period. LJI Wealth Management LLC’s holdings in Tesla were worth $489,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Tesla

In other Tesla 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 value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 7.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The trade was a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,797 shares of company stock worth $57,616,781 over the last three months. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TSLA shares. Wolfe Research began coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price objective for the company in a report on Thursday, October 24th. Guggenheim upped their price objective on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a report on Thursday, October 24th. Finally, Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Thursday, October 17th. Nine 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 MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $230.18.

Tesla Price Performance

NASDAQ:TSLA traded up $9.54 during mid-day trading on Friday, reaching $320.72. The stock had a trading volume of 114,440,286 shares, compared to its average volume of 96,026,047. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The firm has a 50 day moving average price of $252.30 and a two-hundred day moving average price of $220.46. The stock has a market capitalization of $1.03 trillion, a P/E ratio of 87.87, a P/E/G ratio of 10.73 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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. The company had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. As a group, analysts expect 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.