Tesla, Inc. (NASDAQ:TSLA) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 7.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,088 shares of the electric vehicle producer’s stock after selling 672 shares during the quarter. 1832 Asset Management L.P.’s holdings in Tesla were worth $1,600,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Bank & Trust Co purchased a new position in Tesla in the second quarter worth approximately $25,000. Valley Wealth Managers Inc. purchased a new position in shares of Tesla during the 2nd quarter worth $26,000. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla during the 4th quarter worth about $37,000. Kessler Investment Group LLC raised its holdings in Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 51 shares during the period. Finally, Aspect Partners LLC raised its holdings in Tesla by 121.3% in the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’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 transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 over the last ninety days. 25.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TSLA. The Goldman Sachs Group dropped their price target on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Guggenheim lifted their target price on shares of Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a report on Friday, September 13th. Royal Bank of Canada restated an “outperform” rating and set a $224.00 price target on shares of Tesla in a research note on Wednesday. KGI Securities reaffirmed a “neutral” rating and issued a $236.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Finally, Mizuho increased their target price on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 12th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $209.90.

Tesla Stock Up 1.1 %

Shares of NASDAQ TSLA opened at $257.02 on Thursday. 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 firm’s 50-day moving average is $221.20 and its two-hundred day moving average is $197.14. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a market capitalization of $821.09 billion, a PE ratio of 65.57, a price-to-earnings-growth ratio of 6.80 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS 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 company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the business earned $0.78 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. Equities analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Tesla Company 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.