Horst & Graben Wealth Management LLC Has $4.51 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Horst & Graben Wealth Management LLC reduced its holdings in Tesla, Inc. (NASDAQ:TSLA) by 47.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,222 shares of the electric vehicle producer’s stock after selling 15,389 shares during the period. Tesla accounts for about 0.8% of Horst & Graben Wealth Management LLC’s portfolio, making the stock its 21st largest holding. Horst & Graben Wealth Management LLC’s holdings in Tesla were worth $4,506,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Bank & Trust Co acquired a new position in Tesla during the second quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the 2nd quarter worth about $26,000. Abich Financial Wealth Management LLC raised its holdings in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the period. Clean Yield Group lifted its stake in Tesla by 60.0% in the 3rd 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 during the last quarter. Finally, M&R Capital Management Inc. increased its position in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Tesla stock opened at $218.85 on Tuesday. The business has a 50 day moving average of $228.09 and a 200-day moving average of $205.99. The company has a market capitalization of $699.15 billion, a P/E ratio of 61.47, a P/E/G ratio of 6.31 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. 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 (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the business posted $0.78 EPS. Tesla’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TSLA. Roth Mkm reiterated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research note on Friday, October 11th. Citigroup decreased their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. UBS Group lowered shares of Tesla from a “neutral” rating to a “sell” rating and upped their price target for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Finally, Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. 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 data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $211.63.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, 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 transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock valued at $16,663,291 in the last three months. Insiders own 20.70% of the company’s stock.

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.