Tesla, Inc. $TSLA Shares Sold by Fairman Group LLC

Fairman Group LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 38.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 911 shares of the electric vehicle producer’s stock after selling 565 shares during the period. Fairman Group LLC’s holdings in Tesla were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TSLA. Goldman Sachs Group Inc. grew its stake in 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 worth $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Nuveen LLC acquired a new position in Tesla in the first quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC grew its stake in Tesla by 581,880.5% in 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 purchasing an additional 6,435,598 shares in the last quarter. Amundi lifted its holdings in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

NASDAQ TSLA opened at $435.15 on Thursday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market capitalization of $1.45 trillion, a PE ratio of 251.53, a P/E/G ratio of 15.47 and a beta of 2.08. The company’s 50 day simple moving average is $383.21 and its 200 day simple moving average is $330.90.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 prior year, the business earned $0.52 EPS. Tesla’s revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TSLA shares. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. China Renaissance reissued a “hold” rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Guggenheim restated a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Finally, Piper Sandler upped their price target on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $363.03.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last quarter. 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.