Tesla, Inc. $TSLA Shares Sold by Schmidt P J Investment Management Inc.

Schmidt P J Investment Management Inc. reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 27.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,000 shares of the electric vehicle producer’s stock after selling 2,276 shares during the period. Schmidt P J Investment Management Inc.’s holdings in Tesla were worth $1,906,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC acquired a new stake in Tesla during the second quarter worth about $29,000. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the first quarter valued at about $27,000. Chelsea Counsel Co. increased its position 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 valued at $28,000 after acquiring an additional 40 shares during the last quarter. Evergreen Private Wealth LLC increased its position 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 valued at $35,000 after acquiring an additional 81 shares during the last quarter. Finally, Centennial Bank AR increased its position 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 valued at $29,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TSLA shares. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $320.00 to $548.00 in a research report on Friday, September 19th. JPMorgan Chase & Co. lifted their price target on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Canaccord Genuity Group dropped their price target on shares of Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research report on Thursday. Dbs Bank lifted their price target on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Finally, Wall Street Zen upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $381.00.

Tesla Trading Down 3.4%

Shares of NASDAQ:TSLA opened at $433.72 on Monday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company’s 50 day moving average is $398.06 and its two-hundred day moving average is $341.21. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market cap 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 (NASDAQ:TSLA) last announced 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 net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla 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 of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 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.