VestGen Investment Management Trims Position in Tesla, Inc. $TSLA

VestGen Investment Management trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 62.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 887 shares of the electric vehicle producer’s stock after selling 1,482 shares during the period. VestGen Investment Management’s holdings in Tesla were worth $282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. LGT Financial Advisors LLC acquired a new position in shares of Tesla during the second quarter worth about $29,000. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla during the first quarter worth about $27,000. Chelsea Counsel Co. increased its stake in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the period. Evergreen Private Wealth LLC increased its stake in shares of Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 81 shares during the period. Finally, Centennial Bank AR increased its stake in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Down 3.4%

TSLA stock opened at $433.72 on Monday. The company’s 50 day simple moving average is $398.06 and its 200-day simple moving average is $341.21. The firm has a market capitalization of $1.44 trillion, a PE ratio of 289.15, a P/E/G ratio of 15.45 and a beta of 2.08. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 earnings per share. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSLA. BNP Paribas Exane began coverage on shares of Tesla in a research note on Thursday, October 16th. They set an “underperform” rating and a $307.00 price target on the stock. Bank of America boosted their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. New Street Research upped their target price on shares of Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research report on Thursday. China Renaissance upped their target price on shares of Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a research report on Friday. Finally, DZ Bank restated a “sell” rating on shares of Tesla in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $381.00.

Insider Activity

In other news, 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 value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were 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 in the company, valued at $3,473,057.28. The trade was a 20.91% 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 ninety days. 19.90% of the stock is currently 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.