Pursue Wealth Partners LLC Sells 1,344 Shares of Tesla, Inc. $TSLA

Pursue Wealth Partners LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,191 shares of the electric vehicle producer’s stock after selling 1,344 shares during the quarter. Tesla accounts for 1.5% of Pursue Wealth Partners LLC’s portfolio, making the stock its 20th biggest holding. Pursue Wealth Partners LLC’s holdings in Tesla were worth $2,602,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after buying an additional 4,502,976 shares in the last quarter. Geode Capital Management LLC increased its stake in Tesla by 2.0% in the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after acquiring an additional 1,269,304 shares during the period. Norges Bank bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $11,839,824,000. Goldman Sachs Group Inc. lifted its position in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the period. Finally, Legal & General Group Plc boosted its stake in Tesla by 5.9% in the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after buying an additional 1,134,678 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 82,606 shares of company stock worth $33,554,102 in the last quarter. Corporate insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research report on Thursday, October 23rd. DZ Bank restated a “sell” rating on shares of Tesla in a research note on Thursday, October 23rd. Finally, Cowen reiterated a “buy” rating on shares of Tesla in a research report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $394.03.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $430.10 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 286.73, a P/E/G ratio of 16.84 and a beta of 2.06. The business has a 50-day moving average price of $433.95 and a two-hundred day moving average price of $368.95.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current 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.