ACG Wealth lessened its holdings in shares of Tesla Inc. (NASDAQ:TSLA) by 40.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,580 shares of the electric vehicle producer’s stock after selling 1,072 shares during the quarter. ACG Wealth’s holdings in Tesla were worth $539,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Pittenger & Anderson Inc. boosted its holdings in Tesla by 20.0% during the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock worth $108,000 after acquiring an additional 50 shares during the last quarter. Winfield Associates Inc. boosted its holdings in Tesla by 85.2% during the 2nd quarter. Winfield Associates Inc. now owns 326 shares of the electric vehicle producer’s stock worth $118,000 after acquiring an additional 150 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in Tesla by 2.8% during the 2nd quarter. North Star Investment Management Corp. now owns 336 shares of the electric vehicle producer’s stock worth $122,000 after acquiring an additional 9 shares during the last quarter. Carroll Financial Associates Inc. boosted its holdings in Tesla by 8.7% during the 2nd quarter. Carroll Financial Associates Inc. now owns 349 shares of the electric vehicle producer’s stock worth $126,000 after acquiring an additional 28 shares during the last quarter. Finally, Cornerstone Advisors Inc. boosted its holdings in Tesla by 2.3% during the 2nd quarter. Cornerstone Advisors Inc. now owns 402 shares of the electric vehicle producer’s stock worth $145,000 after acquiring an additional 9 shares during the last quarter. Institutional investors and hedge funds own 56.36% of the company’s stock.

Tesla Inc. (NASDAQ TSLA) traded up $3.02 during midday trading on Friday, hitting $315.52. The stock had a trading volume of 8,570,000 shares, compared to its average volume of 6,130,000. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09. Tesla Inc. has a 52-week low of $180.00 and a 52-week high of $389.61.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.09) by $0.17. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.94 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. equities analysts expect that Tesla Inc. will post -11.38 earnings per share for the current year.

A number of research firms have issued reports on TSLA. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Tesla in a report on Thursday. Citigroup Inc. reaffirmed a “hold” rating and set a $367.00 price objective on shares of Tesla in a report on Wednesday. Sanford C. Bernstein set a $265.00 price target on shares of Tesla and gave the stock a “hold” rating in a report on Monday. KeyCorp reissued a “hold” rating on shares of Tesla in a report on Friday, November 10th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $362.00 price target on shares of Tesla in a report on Friday, November 3rd. Ten research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. Tesla presently has a consensus rating of “Hold” and an average price target of $330.28.

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In related news, VP Eric Branderiz sold 99 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $350.12, for a total transaction of $34,661.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $355.20, for a total value of $777,888.00. Following the sale, the director now owns 158,584 shares of the company’s stock, valued at $56,329,036.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,518 shares of company stock worth $18,819,611. Corporate insiders own 23.10% of the company’s stock.

Tesla Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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