True North Advisors LLC Has $874,000 Position in Tesla, Inc. (NASDAQ:TSLA)

True North Advisors LLC cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 22.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,341 shares of the electric vehicle producer’s stock after selling 964 shares during the quarter. True North Advisors LLC’s holdings in Tesla were worth $874,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Bank & Trust Co bought a new position in shares of Tesla in the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla during the second quarter valued at approximately $26,000. Abich Financial Wealth Management LLC grew its holdings in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Clean Yield Group raised its position in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares during the period. Finally, M&R Capital Management Inc. lifted its stake in shares of Tesla by 263.2% in 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 during the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on TSLA shares. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $147.00 to $197.00 in a report on Friday, July 12th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research note on Friday, July 5th. William Blair began coverage on Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. Finally, Roth Mkm reissued a “neutral” rating and issued a $85.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $210.90.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on 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 owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,661 shares of company stock valued at $16,663,291 over the last ninety days. 25.10% of the stock is owned by insiders.

Tesla Price Performance

Shares of Tesla stock opened at $244.50 on Wednesday. The stock has a market capitalization of $781.09 billion, a price-to-earnings ratio of 62.37, a P/E/G ratio of 6.80 and a beta of 2.29. The firm’s 50-day moving average price is $224.61 and its two-hundred day moving average price is $202.78. 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 1-year low of $138.80 and a 1-year high of $271.00.

Tesla (NASDAQ:TSLA) last released its quarterly 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 business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter last year, the company earned $0.78 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current fiscal 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.