Steigerwald Gordon & Koch Inc. Decreases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Steigerwald Gordon & Koch Inc. cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 23.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,569 shares of the electric vehicle producer’s stock after selling 789 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in Tesla were worth $672,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in Tesla by 45.9% in the 3rd quarter. UMB Bank n.a. now owns 114,927 shares of the electric vehicle producer’s stock worth $30,068,000 after acquiring an additional 36,132 shares during the last quarter. Hyperion Partners LLC lifted its stake in shares of Tesla by 22.1% in the 3rd quarter. Hyperion Partners LLC now owns 3,732 shares of the electric vehicle producer’s stock valued at $976,000 after purchasing an additional 676 shares during the period. Cypress Wealth Services LLC increased its stake in shares of Tesla by 4.6% in the 3rd quarter. Cypress Wealth Services LLC now owns 10,865 shares of the electric vehicle producer’s stock worth $2,843,000 after acquiring an additional 474 shares in the last quarter. Morton Capital Management LLC CA boosted its position in shares of Tesla by 71.9% in the 3rd quarter. Morton Capital Management LLC CA now owns 2,178 shares of the electric vehicle producer’s stock worth $570,000 after purchasing an additional 911 shares in the last quarter. Finally, Sanders Morris Harris LLC grew its stake in shares of Tesla by 20.1% in the third quarter. Sanders Morris Harris LLC now owns 1,790 shares of the electric vehicle producer’s stock worth $468,000 after acquiring an additional 299 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Down 0.8 %

Shares of TSLA stock traded down $2.02 on Thursday, hitting $239.03. The stock had a trading volume of 43,311,094 shares, compared to its average volume of 94,797,664. The firm has a market capitalization of $763.61 billion, a P/E ratio of 60.83, a P/E/G ratio of 6.80 and a beta of 2.29. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company’s 50 day moving average price is $224.79 and its 200-day moving average price is $203.05.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TSLA shares. KGI Securities restated a “neutral” rating and issued a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. Stifel Nicolaus initiated coverage on Tesla in a research note on Tuesday, June 25th. They set a “buy” rating and a $265.00 target price on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $245.00 price objective on shares of Tesla in a report on Monday. Canaccord Genuity Group restated a “buy” rating and issued a $254.00 price target on shares of Tesla in a research report on Friday, September 13th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $210.90.

Insiders Place Their Bets

In other Tesla 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction on 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 transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 85,000 shares of the company’s stock, 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 ninety days. Insiders own 25.10% of the company’s stock.

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.