Tesla, Inc. (NASDAQ:TSLA) Stake Cut by Oliver Lagore Vanvalin Investment Group

Oliver Lagore Vanvalin Investment Group decreased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 75.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,166 shares of the electric vehicle producer’s stock after selling 6,824 shares during the period. Oliver Lagore Vanvalin Investment Group’s holdings in Tesla were worth $429,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Tesla by 60.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 549,008 shares of the electric vehicle producer’s stock valued at $108,638,000 after acquiring an additional 206,248 shares in the last quarter. Morse Asset Management Inc raised its stake in shares of Tesla by 138.1% during the 2nd quarter. Morse Asset Management Inc now owns 5,969 shares of the electric vehicle producer’s stock worth $1,181,000 after purchasing an additional 3,462 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of Tesla by 7.4% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after buying an additional 1,943 shares during the last quarter. Entropy Technologies LP acquired a new position in Tesla in the first quarter worth approximately $1,941,000. Finally, Future Financial Wealth Managment LLC bought a new position in Tesla during the first quarter valued at approximately $79,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The shares were 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 of the company’s stock, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,661 shares of company stock valued at $16,663,291. 25.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Stifel Nicolaus started coverage on shares of Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price objective for the company. Citigroup lowered their price objective on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Canaccord Genuity Group reiterated a “buy” rating and issued a $254.00 target price on shares of Tesla in a research note on Friday, September 13th. Wedbush reiterated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Finally, China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a research report on Friday, July 5th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $209.90.

Tesla Stock Performance

Shares of TSLA opened at $260.46 on Friday. The firm has a fifty day simple moving average of $221.47 and a 200 day simple moving average of $197.95. 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 stock has a market capitalization of $832.08 billion, a price-to-earnings ratio of 66.44, a PEG ratio of 6.92 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released 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 company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. Research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Tesla 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.