Tesla, Inc. (NASDAQ:TSLA) Holdings Cut by Old Port Advisors

Old Port Advisors reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 29.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 836 shares of the electric vehicle producer’s stock after selling 355 shares during the period. Old Port Advisors’ holdings in Tesla were worth $219,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its position in Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after acquiring an additional 3,795,748 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after purchasing an additional 11,023,436 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC boosted its holdings in Tesla by 2.6% in the second quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after buying an additional 412,872 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 1.1 %

Shares of Tesla stock opened at $259.52 on Wednesday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.54. The stock has a market capitalization of $833.07 billion, a P/E ratio of 71.10, a price-to-earnings-growth ratio of 7.59 and a beta of 2.29. The company has a 50-day simple moving average of $232.09 and a 200 day simple moving average of $209.16. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.53 earnings per share. Research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred 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 $14,967,479.07. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 8,000 shares of the 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 completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,297 shares of company stock worth $3,065,866. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $295.00 price objective on shares of Tesla in a research note on Tuesday, September 10th. Wolfe Research assumed coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. China Renaissance raised shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a report on Friday, July 5th. William Blair started coverage on shares of Tesla in a report on Thursday, August 29th. They issued an “outperform” rating on the stock. Finally, Barclays upped their price target on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $219.45.

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.