Edgestream Partners L.P. Sells 9,179 Shares of Tesla, Inc. $TSLA

Edgestream Partners L.P. cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 65.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,928 shares of the electric vehicle producer’s stock after selling 9,179 shares during the quarter. Edgestream Partners L.P.’s holdings in Tesla were worth $1,565,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Siren L.L.C. purchased a new stake in Tesla during the 1st quarter valued at about $2,332,000. Zuckerman Investment Group LLC lifted its stake in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after buying an additional 826 shares in the last quarter. Norges Bank purchased a new stake in shares of Tesla during the second quarter valued at approximately $11,839,824,000. Police & Firemen s Retirement System of New Jersey increased its position in shares of Tesla by 5.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock valued at $135,688,000 after acquiring an additional 22,607 shares in the last quarter. Finally, Keystone Global Partners LLC bought a new stake in shares of Tesla during the first quarter valued at approximately $594,000. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $455.00 on Friday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The firm has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 303.33, a price-to-earnings-growth ratio of 15.36 and a beta of 1.87. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $434.93 and a 200 day moving average of $372.41.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period last year, the firm earned $0.72 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 82,606 shares of company stock valued at $33,554,102. 19.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on TSLA. Glj Research reiterated a “sell” rating on shares of Tesla in a research note on Wednesday, October 22nd. Cantor Fitzgerald set a $510.00 price objective on Tesla and gave the company an “overweight” rating in a research report on Thursday, October 23rd. William Blair reissued a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. CICC Research raised their price target on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Finally, Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $398.92.

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.