Ables Iannone Moore & Associates Inc. Sells 204 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ables Iannone Moore & Associates Inc. reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,164 shares of the electric vehicle producer’s stock after selling 204 shares during the period. Tesla makes up about 0.7% of Ables Iannone Moore & Associates Inc.’s holdings, making the stock its 29th largest holding. Ables Iannone Moore & Associates Inc.’s holdings in Tesla were worth $1,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Bank & Trust Co purchased a new stake in Tesla in the 2nd quarter worth approximately $25,000. Abich Financial Wealth Management LLC raised its position in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Tesla in the second quarter worth $26,000. M&R Capital Management Inc. grew its position in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A bought a new position in Tesla in the 4th quarter worth about $37,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSLA has been the subject of several recent analyst reports. Argus reissued a “buy” rating and set a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Guggenheim boosted their price target on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. Wolfe Research assumed coverage on shares of Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and lifted their price objective for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus 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 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 sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Vaibhav Taneja sold 8,000 shares of the business’s stock in a transaction 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 directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 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 approximately $18,696,600. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,661 shares of company stock valued at $16,663,291. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Down 3.5 %

Shares of Tesla stock opened at $249.02 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The company has a market cap of $795.53 billion, a P/E ratio of 63.53, a PEG ratio of 7.08 and a beta of 2.29. The company’s fifty day simple moving average is $222.99 and its two-hundred day simple moving average is $200.58.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (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 company had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the company earned $0.78 earnings per share. Tesla’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

About Tesla

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.