Tesla, Inc. $TSLA Shares Sold by Tortoise Investment Management LLC

Tortoise Investment Management LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 689 shares of the electric vehicle producer’s stock after selling 310 shares during the period. Tortoise Investment Management LLC’s holdings in Tesla were worth $219,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. MTM Investment Management LLC acquired a new stake in Tesla in the second quarter valued at about $711,000. Firestone Capital Management purchased a new position in shares of Tesla during the 2nd quarter worth approximately $341,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Tesla by 8.3% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 530,148 shares of the electric vehicle producer’s stock valued at $168,407,000 after buying an additional 40,647 shares during the period. Alberta Investment Management Corp boosted its stake in shares of Tesla by 9.9% in the second quarter. Alberta Investment Management Corp now owns 33,200 shares of the electric vehicle producer’s stock valued at $10,546,000 after buying an additional 3,000 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its holdings in Tesla by 4.2% during the second quarter. Kingsview Wealth Management LLC now owns 49,526 shares of the electric vehicle producer’s stock worth $15,732,000 after acquiring an additional 1,992 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Dbs Bank upgraded shares of Tesla to a “hold” rating in a report on Wednesday, November 5th. CICC Research raised their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. HSBC raised their target price on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Finally, The Goldman Sachs Group cut their price target on Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $394.31.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on 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 transaction, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Trading Up 2.7%

Shares of TSLA opened at $415.09 on Monday. The stock has a market cap of $1.38 trillion, a PE ratio of 277.35, a P/E/G ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The stock’s 50-day moving average is $429.67 and its two-hundred day moving average is $361.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating 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 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 prior year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.