Tesla, Inc. $TSLA Stake Reduced by Farnam Financial LLC

Farnam Financial LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 19.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,551 shares of the electric vehicle producer’s stock after selling 600 shares during the quarter. Farnam Financial LLC’s holdings in Tesla were worth $810,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. First Merchants Corp raised its stake in shares of Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares in the last quarter. Kaye Capital Management increased its stake in Tesla by 3.1% during the 2nd quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer’s stock valued at $333,000 after buying an additional 31 shares during the period. Spectrum Wealth Advisory Group LLC increased its stake in Tesla by 3.4% during the 2nd quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer’s stock valued at $299,000 after buying an additional 31 shares during the period. Wambolt & Associates LLC lifted its stake in shares of Tesla by 1.0% in the 2nd quarter. Wambolt & Associates LLC now owns 3,119 shares of the electric vehicle producer’s stock worth $938,000 after acquiring an additional 31 shares during the period. Finally, Alaska Wealth Advisors boosted its holdings in shares of Tesla by 3.4% in the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after acquiring an additional 32 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $426.58 on Thursday. The company has a 50 day simple moving average of $433.68 and a 200-day simple moving average of $367.76. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The firm has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 284.39, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 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 6.61%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 earnings per share. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on TSLA. UBS Group reiterated a “sell” rating on shares of Tesla in a research report on Friday, November 7th. Cantor Fitzgerald set a $510.00 target price on Tesla and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. Roth Capital set a $505.00 price objective on Tesla and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, DZ Bank reiterated a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $394.03.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 82,606 shares of company stock valued at $33,554,102. 19.90% of the stock is owned by 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.