High Falls Advisors Inc Decreases Position in Tesla, Inc. (NASDAQ:TSLA)

High Falls Advisors Inc reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 60.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,055 shares of the electric vehicle producer’s stock after selling 3,160 shares during the period. High Falls Advisors Inc’s holdings in Tesla were worth $407,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bank & Trust Co purchased a new position in shares of Tesla in the second quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $37,000. Finally, Kessler Investment Group LLC increased its holdings in shares of Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays lowered their price objective on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Morgan Stanley reissued an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, September 5th. The Goldman Sachs Group cut their price objective 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. Stifel Nicolaus began coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price on the stock. Finally, Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday. Nine equities research 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. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $209.90.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,661 shares of company stock valued at $16,663,291. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Up 2.5 %

Shares of Tesla stock opened at $260.46 on Monday. 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, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00. The company has a market capitalization of $830.66 billion, a P/E ratio of 66.44, a P/E/G ratio of 6.92 and a beta of 2.29. The company has a 50 day moving average of $221.89 and a 200 day moving average of $198.88.

Tesla (NASDAQ:TSLA) last issued its earnings results 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 return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts forecast 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.