Axxcess Wealth Management LLC Sells 10,936 Shares of Tesla, Inc. (NASDAQ:TSLA)

Axxcess Wealth Management LLC trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,872 shares of the electric vehicle producer’s stock after selling 10,936 shares during the period. Axxcess Wealth Management LLC’s holdings in Tesla were worth $15,141,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in shares of Tesla by 5.6% during the 3rd quarter. Principal Financial Group Inc. now owns 3,650,393 shares of the electric vehicle producer’s stock worth $955,052,000 after buying an additional 194,796 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Tesla by 60.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after purchasing an additional 206,248 shares during the period. Scott & Selber Inc. boosted its holdings in Tesla by 80.3% in the 3rd quarter. Scott & Selber Inc. now owns 12,659 shares of the electric vehicle producer’s stock valued at $3,312,000 after purchasing an additional 5,639 shares during the period. AIA Group Ltd boosted its holdings in Tesla by 10.1% in the 3rd quarter. AIA Group Ltd now owns 83,374 shares of the electric vehicle producer’s stock valued at $21,813,000 after purchasing an additional 7,655 shares during the period. Finally, Gladstone Institutional Advisory LLC boosted its holdings in Tesla by 6.5% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 43,377 shares of the electric vehicle producer’s stock valued at $11,349,000 after purchasing an additional 2,664 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 8.2 %

Shares of NASDAQ TSLA opened at $321.22 on Friday. The firm has a market capitalization of $1.03 trillion, a PE ratio of 88.01, a price-to-earnings-growth ratio of 10.59 and a beta of 2.29. 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, Inc. has a 1 year low of $138.80 and a 1 year high of $328.71. The firm’s 50-day moving average is $241.18 and its 200-day moving average is $214.90.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. During the same quarter last year, the firm earned $0.53 EPS. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 1.96 EPS for the current year.

Analyst Ratings Changes

TSLA has been the subject of a number of recent research reports. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, October 3rd. Truist Financial increased their price objective on shares of Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. Wolfe Research began coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Canaccord Genuity Group increased their target price on shares of Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, HSBC reiterated a “reduce” rating and set a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $222.03.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $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. Insiders have sold 76,797 shares of company stock valued at $19,211,821 in the last 90 days. 20.70% of the stock is owned by 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.