SWS Partners Sells 640 Shares of Tesla, Inc. $TSLA

SWS Partners decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 33.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,288 shares of the electric vehicle producer’s stock after selling 640 shares during the quarter. SWS Partners’ holdings in Tesla were worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Iron Gate Global Advisors LLC increased its stake in shares of Tesla by 22.6% in the first quarter. Iron Gate Global Advisors LLC now owns 2,383 shares of the electric vehicle producer’s stock valued at $618,000 after buying an additional 439 shares during the period. Siren L.L.C. acquired a new stake in Tesla during the 1st quarter worth approximately $2,332,000. WBI Investments LLC grew its holdings in Tesla by 404.7% during the 1st quarter. WBI Investments LLC now owns 2,978 shares of the electric vehicle producer’s stock worth $772,000 after acquiring an additional 2,388 shares during the last quarter. Chelsea Counsel Co. grew its holdings in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Finally, MBL Wealth LLC increased its position in Tesla by 4.8% in the 1st quarter. MBL Wealth LLC now owns 6,157 shares of the electric vehicle producer’s stock valued at $1,596,000 after acquiring an additional 284 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of a number of recent research reports. HSBC reiterated a “reduce” rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Canaccord Genuity Group lifted their target price on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. UBS Group set a $290.00 price objective on Tesla in a research report on Monday, June 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $303.00.

Tesla Stock Performance

NASDAQ:TSLA opened at $347.79 on Thursday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a fifty day moving average of $326.14 and a 200-day moving average of $302.57. The firm has a market capitalization of $1.12 trillion, a P/E ratio of 201.03, a P/E/G ratio of 12.10 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The firm’s revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,606 shares of company stock valued at $44,724,662 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

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.