Willis Johnson & Associates Inc. Reduces Position in Tesla, Inc. $TSLA

Willis Johnson & Associates Inc. trimmed its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.1% in the second quarter, HoldingsChannel.com reports. The fund owned 7,335 shares of the electric vehicle producer’s stock after selling 474 shares during the quarter. Willis Johnson & Associates Inc.’s holdings in Tesla were worth $2,330,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TSLA. Norges Bank acquired a new stake in shares of Tesla during the 2nd quarter worth about $11,839,824,000. Goldman Sachs Group Inc. raised its position in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Nuveen LLC purchased a new position in shares of Tesla during the first quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC boosted its position in Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after acquiring an additional 6,435,598 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after acquiring an additional 4,502,976 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’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. The trade was a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were 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 of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,606 shares of company stock valued at $33,554,102 over the last quarter. Company insiders own 19.90% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $430.10 on Monday. The firm has a fifty day moving average of $433.95 and a 200-day moving average of $369.34. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 286.73, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last posted 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 for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

TSLA has been the subject of a number of recent analyst reports. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Wall Street Zen upgraded Tesla from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. China Renaissance increased their price objective on shares of Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a report on Friday, October 24th. Cantor Fitzgerald set a $510.00 price target on shares of Tesla and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Finally, Stifel Nicolaus lifted their price target on shares of Tesla from $483.00 to $508.00 and gave the company a “buy” rating in a report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $394.03.

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.