CORDA Investment Management LLC. Lowers Stock Position in Tesla, Inc. $TSLA

CORDA Investment Management LLC. decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 11.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,949 shares of the electric vehicle producer’s stock after selling 746 shares during the period. CORDA Investment Management LLC.’s holdings in Tesla were worth $1,890,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TSLA. First PREMIER Bank grew its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla during the 1st quarter valued at approximately $27,000. Chelsea Counsel Co. grew its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the period. Centennial Bank AR increased its holdings in Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Finally, Compass Wealth Management LLC raised its position in Tesla by 360.0% during the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In related 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 completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TSLA shares. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. BNP Paribas Exane initiated coverage on Tesla in a report on Thursday. They issued an “underperform” rating and a $307.00 price objective on the stock. UBS Group set a $247.00 price objective on Tesla in a research note on Monday, October 6th. HSBC raised their target price on Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $363.54.

Tesla Price Performance

TSLA stock opened at $439.31 on Monday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year 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 $1.46 trillion, a PE ratio of 253.94, a price-to-earnings-growth ratio of 15.79 and a beta of 2.08. The business has a 50 day simple moving average of $387.54 and a 200-day simple moving average of $334.06.

Tesla (NASDAQ:TSLA) last announced 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). The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. Equities research analysts anticipate 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.