Smith Group Asset Management LLC Sells 175 Shares of Tesla, Inc. $TSLA

Smith Group Asset Management LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,631 shares of the electric vehicle producer’s stock after selling 175 shares during the quarter. Smith Group Asset Management LLC’s holdings in Tesla were worth $1,471,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TSLA. Brighton Jones LLC boosted its holdings in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after buying an additional 931 shares during the period. Bison Wealth LLC raised its stake in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after buying an additional 3,558 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Tesla by 6.0% in the first quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock worth $9,812,000 after buying an additional 2,153 shares during the period. Finally, Financial Enhancement Group LLC boosted its position in Tesla by 7.3% during the 1st quarter. Financial Enhancement Group LLC now owns 1,788 shares of the electric vehicle producer’s stock valued at $425,000 after acquiring an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. 19.90% of the stock is currently owned by company insiders.

Tesla Stock Up 2.3%

TSLA stock opened at $448.98 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. 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 $1.49 trillion, a P/E ratio of 299.32, a P/E/G ratio of 15.78 and a beta of 2.08. The business has a fifty day moving average price of $396.00 and a 200-day moving average price of $338.45.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.72%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $435.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday. BNP Paribas Exane began coverage on shares of Tesla in a research report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 target price on the stock. UBS Group set a $247.00 price target on shares of Tesla in a research note on Monday, October 6th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday. Finally, Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $380.97.

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.