Interchange Capital Partners LLC Decreases Stake in Tesla, Inc. (NASDAQ:TSLA)

Interchange Capital Partners LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.4% during the third quarter, Holdings Channel reports. The fund owned 13,453 shares of the electric vehicle producer’s stock after selling 1,393 shares during the quarter. Tesla accounts for 1.2% of Interchange Capital Partners LLC’s investment portfolio, making the stock its 15th largest holding. Interchange Capital Partners LLC’s holdings in Tesla were worth $3,520,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TSLA. International Assets Investment Management LLC boosted its stake in Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after acquiring an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP lifted its position in shares of Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after purchasing an additional 6,764,300 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in Tesla by 21,816.0% in the second quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. increased its holdings in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after buying an additional 1,479,378 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TSLA shares. Roth Mkm reiterated a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Friday, October 11th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Barclays boosted their price objective on shares of Tesla from $220.00 to $235.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Glj Research reiterated a “sell” rating and set a $24.86 price objective on shares of Tesla in a research note on Thursday, October 17th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $219.45.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,297 shares of company stock valued at $3,065,866 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA stock traded up $2.00 during trading hours on Friday, hitting $251.85. 15,688,675 shares of the stock traded hands, compared to its average volume of 93,981,500. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The stock has a 50-day simple moving average of $233.56 and a 200 day simple moving average of $209.78. Tesla, Inc. has a one year low of $138.80 and a one year high of $273.54. The company has a market cap of $808.45 billion, a P/E ratio of 69.00, a P/E/G ratio of 8.49 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current 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.