Profund Advisors LLC Sells 11,929 Shares of Tesla, Inc. (NASDAQ:TSLA)

Profund Advisors LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 190,051 shares of the electric vehicle producer’s stock after selling 11,929 shares during the quarter. Tesla accounts for about 1.4% of Profund Advisors LLC’s investment portfolio, making the stock its 10th biggest position. Profund Advisors LLC’s holdings in Tesla were worth $37,607,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSLA. Bank & Trust Co acquired a new position in Tesla in the second quarter worth about $25,000. Valley Wealth Managers Inc. bought a new position in Tesla during the 2nd quarter worth approximately $26,000. OLD Point Trust & Financial Services N A bought a new position in Tesla during the 4th quarter worth approximately $37,000. Guardian Wealth Management Inc. acquired a new position in shares of Tesla in the 4th quarter worth approximately $47,000. Finally, Kessler Investment Group LLC increased its holdings in shares of 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 acquiring an additional 51 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TSLA shares. Argus reaffirmed a “buy” rating and issued a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective on the stock. in a research note on Wednesday, July 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Finally, HSBC increased their price target on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $209.60.

Tesla Trading Down 2.3 %

Shares of TSLA stock opened at $238.25 on Friday. The stock has a 50-day simple moving average of $221.30 and a 200 day simple moving average of $195.94. The stock has a market capitalization of $759.83 billion, a P/E ratio of 60.78, a P/E/G ratio of 6.00 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’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 sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

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.