Davis R M Inc. Sells 696 Shares of Tesla, Inc. (NASDAQ:TSLA)

Davis R M Inc. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 10.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,105 shares of the electric vehicle producer’s stock after selling 696 shares during the quarter. Davis R M Inc.’s holdings in Tesla were worth $1,597,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Connable Office Inc. lifted its holdings in shares of Tesla by 0.3% during the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock worth $3,368,000 after purchasing an additional 38 shares during the period. Holistic Financial Partners grew its position in shares of Tesla by 1.0% in the 3rd quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock valued at $1,061,000 after buying an additional 40 shares during the last quarter. Integris Wealth Management LLC increased its stake in shares of Tesla by 1.0% in the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after buying an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc raised its position in shares of Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares during the last quarter. Finally, Altman Advisors Inc. lifted its stake in shares of Tesla by 0.4% in the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after acquiring an additional 43 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the completion of the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This trade represents a 94.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the sale, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,187 shares of company stock worth $92,956,692 in the last quarter. Insiders own 20.70% of the company’s stock.

Tesla Trading Down 4.0 %

Shares of TSLA stock opened at $338.59 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. The company has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 92.76, a PEG ratio of 11.45 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $361.93. The company has a 50-day simple moving average of $266.31 and a two-hundred day simple moving average of $227.97.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $0.53 earnings per share. Research analysts anticipate that Tesla, Inc. will post 1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on TSLA. StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. The Goldman Sachs Group boosted their target price on shares of Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Canaccord Genuity Group increased their price target on Tesla from $254.00 to $278.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a research note on Wednesday, October 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 target price on shares of Tesla in a research note on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $231.06.

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.