Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 80.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,352 shares of the electric vehicle producer’s stock after selling 25,562 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Tesla were worth $1,257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Vantage Financial Partners LLC boosted its holdings in Tesla by 6.4% during the 4th quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock valued at $1,432,000 after acquiring an additional 346 shares during the period. Gilbert & Cook Inc. lifted its holdings in Tesla by 8.7% during the 4th quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock worth $3,357,000 after buying an additional 1,086 shares in the last quarter. 9258 Wealth Management LLC boosted its position in Tesla by 1.1% in the 4th quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock valued at $1,532,000 after buying an additional 69 shares during the period. Rollins Financial increased its position in shares of Tesla by 10.2% during the fourth quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after acquiring an additional 11,191 shares during the period. Finally, Paulson Wealth Management Inc. boosted its holdings in Tesla by 7.0% in the fourth quarter. Paulson Wealth Management Inc. now owns 869 shares of the electric vehicle producer’s stock valued at $216,000 after purchasing an additional 57 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $260.46 on Monday. The company has a market cap 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 business has a fifty day simple moving average of $221.89 and a 200-day simple moving average of $198.88. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00. 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 (NASDAQ:TSLA) last posted its quarterly earnings data 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 net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the company earned $0.78 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Insiders Place Their Bets

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 approximately $26,258,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated 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 transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock valued at $16,663,291 over the last quarter. Company insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent research reports. Argus reiterated a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. New Street Research cut shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a report on Wednesday, July 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $224.00 price objective on shares of Tesla in a report on Wednesday, September 25th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Finally, HSBC lifted their target price on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $209.90.

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.