Interchange Capital Partners LLC Sells 326 Shares of Tesla, Inc. $TSLA

Interchange Capital Partners LLC lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 11,694 shares of the electric vehicle producer’s stock after selling 326 shares during the period. Tesla comprises approximately 0.9% of Interchange Capital Partners LLC’s holdings, making the stock its 21st largest holding. Interchange Capital Partners LLC’s holdings in Tesla were worth $3,715,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TSLA. Goldman Sachs Group Inc. lifted its stake in Tesla by 322.1% in the 1st 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 acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new stake in Tesla in the 1st quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its stake in Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares in the last quarter. Amundi lifted its stake in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $320.00 to $548.00 in a research note on Friday, September 19th. TD Cowen upped their price objective on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. China Renaissance boosted their target price on Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Finally, Evercore ISI decreased their target price on Tesla from $300.00 to $235.00 in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and eleven have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $381.70.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $433.72 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.55. The stock’s fifty day moving average price is $398.06 and its two-hundred day moving average price is $340.74. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The firm has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a P/E/G ratio of 15.59 and a beta of 2.08.

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

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value 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 three months, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by company insiders.

About Tesla

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.