Garner Asset Management Corp Lowers Holdings in Tesla, Inc. (NASDAQ:TSLA)

Garner Asset Management Corp cut its position in Tesla, Inc. (NASDAQ:TSLA) by 7.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,129 shares of the electric vehicle producer’s stock after selling 236 shares during the quarter. Garner Asset Management Corp’s holdings in Tesla were worth $819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its holdings in shares of Tesla by 1.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 144,482 shares of the electric vehicle producer’s stock worth $37,801,000 after buying an additional 1,741 shares during the last quarter. Tyler Stone Wealth Management grew its holdings in shares of Tesla by 109.6% during the 3rd quarter. Tyler Stone Wealth Management now owns 9,425 shares of the electric vehicle producer’s stock valued at $2,466,000 after purchasing an additional 4,929 shares during the last quarter. Savvy Advisors Inc. grew its holdings in shares of Tesla by 24.2% during the 3rd quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock valued at $1,969,000 after purchasing an additional 1,467 shares during the last quarter. Blackhawk Capital Partners LLC. grew its holdings in shares of Tesla by 102.0% during the 3rd quarter. Blackhawk Capital Partners LLC. now owns 5,598 shares of the electric vehicle producer’s stock valued at $1,465,000 after purchasing an additional 2,827 shares during the last quarter. Finally, ICICI Prudential Asset Management Co Ltd grew its holdings in shares of Tesla by 19.0% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 24,440 shares of the electric vehicle producer’s stock valued at $6,394,000 after purchasing an additional 3,909 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,187 shares of company stock valued at $92,956,692 over the last three months. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. Canaccord Genuity Group increased their target price on shares of Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Wolfe Research started coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Morgan Stanley restated an “overweight” rating and issued a $310.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Finally, Guggenheim boosted their price objective on shares of Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a research report on Thursday, October 24th. Nine 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.com, the stock currently has a consensus rating of “Hold” and an average price target of $230.18.

Tesla Trading Up 3.8 %

Shares of NASDAQ TSLA opened at $352.56 on Friday. The firm’s 50 day moving average price is $264.07 and its 200-day moving average price is $226.43. The company has a market cap of $1.13 trillion, a PE ratio of 96.59, a P/E/G ratio of 11.03 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $361.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Tesla 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.