Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Cullen Investment Group LTD.

Cullen Investment Group LTD. trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,391 shares of the electric vehicle producer’s stock after selling 45 shares during the quarter. Cullen Investment Group LTD.’s holdings in Tesla were worth $887,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Integris Wealth Management LLC boosted its position in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the last quarter. Echo Wealth Management LLC grew its position in shares of Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after purchasing an additional 44 shares during the period. WASHINGTON TRUST Co increased its position in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after acquiring an additional 45 shares in the last quarter. Bellevue Asset Management LLC increased its holdings in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares in the last quarter. Finally, Cypress Capital Group grew its stake in shares of Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after acquiring an additional 47 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related 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 transaction 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 approximately $18,696,600. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla 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 owns 85,000 shares in the company, valued at $18,696,600. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 in the last three months. 25.10% of the stock is currently owned by insiders.

Tesla Price Performance

TSLA stock traded up $9.42 during trading on Friday, hitting $250.08. The stock had a trading volume of 86,726,285 shares, compared to its average volume of 81,772,848. The company’s 50-day moving average price is $224.00 and its two-hundred day moving average price is $201.39. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $271.00. The stock has a market capitalization of $798.92 billion, a P/E ratio of 63.80, a PEG ratio of 6.79 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last announced its earnings results 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). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. As a group, research analysts predict that Tesla, Inc. will post 1.74 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the subject of several analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research note on Thursday. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Guggenheim boosted their price target on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Barclays decreased their price target 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. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $210.54.

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.