Tectonic Advisors LLC Sells 150 Shares of Tesla, Inc. $TSLA

Tectonic Advisors LLC cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 19.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 636 shares of the electric vehicle producer’s stock after selling 150 shares during the quarter. Tectonic Advisors LLC’s holdings in Tesla were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Means Investment CO. Inc. boosted its position in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after buying an additional 6,323 shares during the period. Siren L.L.C. acquired a new stake in Tesla during the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC boosted its position in Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after buying an additional 826 shares during the period. Keystone Global Partners LLC acquired a new stake in Tesla during the 1st quarter worth approximately $594,000. Finally, Strs Ohio acquired a new position in shares of Tesla in the 1st quarter worth approximately $205,495,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TSLA shares. The Goldman Sachs Group increased their price objective on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. 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. UBS Group set a $247.00 target price on shares of Tesla in a research note on Monday. Finally, Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $354.67.

Tesla Stock Down 5.1%

Tesla stock opened at $413.49 on Friday. 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 12-month low of $212.11 and a 12-month high of $488.54. The firm’s fifty day moving average is $375.97 and its 200 day moving average is $327.51. The company has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a PEG ratio of 15.81 and a beta of 2.08.

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

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate insiders.

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.