Tesla, Inc. $TSLA Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 97.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,768 shares of the electric vehicle producer’s stock after selling 89,187 shares during the quarter. Stevens Capital Management LP’s holdings in Tesla were worth $879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Chelsea Counsel Co. lifted its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Tesla during the second quarter worth about $29,000. Evergreen Private Wealth LLC boosted its position in shares of Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares during the period. Glynn Capital Management LLC acquired a new stake in shares of Tesla in the second quarter valued at about $35,000. Finally, LSV Asset Management raised its holdings in shares of Tesla by 400.0% during the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock valued at $38,000 after buying an additional 96 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 1.0%

Tesla stock opened at $391.09 on Friday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The firm’s 50-day moving average is $433.55 and its 200-day moving average is $364.31. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The company has a market cap of $1.30 trillion, a P/E ratio of 260.73, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TSLA. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. Bank of America increased their target price on Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Glj Research restated a “sell” rating on shares of Tesla in a research note on Wednesday, October 22nd. Cantor Fitzgerald set a $510.00 price objective on shares of Tesla and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Finally, Dbs Bank raised shares of Tesla to a “hold” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $394.31.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Company 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.