Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 279,820 shares of the electric vehicle producer’s stock after selling 4,805 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Tesla were worth $73,209,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Tesla by 60.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock worth $108,638,000 after purchasing an additional 206,248 shares during the period. Morse Asset Management Inc boosted its stake in Tesla by 138.1% in the second quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,181,000 after acquiring an additional 3,462 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Tesla by 12.9% during the second quarter. NewEdge Advisors LLC now owns 236,802 shares of the electric vehicle producer’s stock valued at $46,858,000 after purchasing an additional 27,130 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Tesla during the 1st quarter worth approximately $1,941,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Tesla in the 1st quarter worth approximately $79,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 0.8 %

Shares of Tesla stock opened at $218.85 on Tuesday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The firm has a market capitalization of $699.15 billion, a PE ratio of 61.47, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company’s fifty day moving average price is $228.09 and its two-hundred day moving average price is $205.99.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the firm earned $0.78 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. On average, analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 approximately $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. Over the last ninety days, insiders have sold 74,661 shares of company stock valued at $16,663,291. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. Jefferies Financial Group upped their price objective on Tesla from $165.00 to $195.00 and gave the stock a “hold” rating in a research note on Monday. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a report on Wednesday, July 24th. Guggenheim boosted their target price on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Roth Mkm restated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Friday, October 11th. Finally, Truist Financial lifted their price target on Tesla from $215.00 to $236.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $211.63.

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.