Tesla, Inc. $TSLA Stake Cut by Dale Q Rice Investment Management Ltd

Dale Q Rice Investment Management Ltd decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 37.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,119 shares of the electric vehicle producer’s stock after selling 4,779 shares during the period. Tesla accounts for 2.2% of Dale Q Rice Investment Management Ltd’s investment portfolio, making the stock its 10th biggest position. Dale Q Rice Investment Management Ltd’s holdings in Tesla were worth $2,612,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Rodgers & Associates LTD acquired a new position in Tesla in the 2nd quarter valued at about $227,000. Hartline Investment Corp acquired a new position in Tesla in the 2nd quarter valued at about $227,000. Nicholson Wealth Management Group LLC grew its stake in Tesla by 8.4% in the 2nd quarter. Nicholson Wealth Management Group LLC now owns 1,564 shares of the electric vehicle producer’s stock worth $497,000 after acquiring an additional 121 shares during the period. Carmel Capital Partners LLC grew its stake in Tesla by 15.0% in the 2nd quarter. Carmel Capital Partners LLC now owns 12,104 shares of the electric vehicle producer’s stock worth $3,845,000 after acquiring an additional 1,579 shares during the period. Finally, Chevy Chase Trust Holdings LLC grew its stake in Tesla by 0.8% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 1,485,331 shares of the electric vehicle producer’s stock worth $471,830,000 after acquiring an additional 11,768 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on TSLA shares. Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a research note on Monday. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Melius assumed coverage on Tesla in a report on Monday, October 13th. They issued a “buy” rating and a $520.00 target price on the stock. Bank of America raised their price objective on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Finally, Canaccord Genuity Group increased their target price on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $363.54.

Tesla Stock Up 2.5%

Shares of NASDAQ TSLA opened at $439.31 on Friday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a market cap of $1.46 trillion, a P/E ratio of 253.94, a P/E/G ratio of 15.41 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $387.54 and a 200 day moving average price of $333.25.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 in the last ninety days. Insiders own 19.90% of the company’s stock.

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.