Marco Investment Management LLC Lowers Position in Tesla, Inc. (NASDAQ:TSLA)

Marco Investment Management LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,084 shares of the electric vehicle producer’s stock after selling 36 shares during the period. Marco Investment Management LLC’s holdings in Tesla were worth $4,731,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Oppenheimer & Co. Inc. grew its stake 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 acquiring an additional 1,741 shares in the last quarter. Tyler Stone Wealth Management lifted its position in shares of Tesla by 109.6% during the third 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 in the last quarter. Savvy Advisors Inc. boosted its holdings in Tesla by 24.2% during the third quarter. Savvy Advisors Inc. now owns 7,527 shares of the electric vehicle producer’s stock worth $1,969,000 after purchasing an additional 1,467 shares during the last quarter. Blackhawk Capital Partners LLC. grew its position in Tesla by 102.0% in the 3rd quarter. Blackhawk Capital Partners LLC. now owns 5,598 shares of the electric vehicle producer’s stock worth $1,465,000 after purchasing an additional 2,827 shares in the last quarter. Finally, ICICI Prudential Asset Management Co Ltd increased its stake in Tesla by 19.0% in 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 buying an additional 3,909 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $352.56 on Friday. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 96.59, a PEG ratio of 11.03 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $264.07 and a 200 day simple moving average of $226.43. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.53.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The company had revenue of $25.18 billion during 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 revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at $26,727,400. The trade was a 56.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 301,187 shares of company stock valued at $92,956,692 in the last quarter. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler upped their target price on Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Truist Financial upped their price objective on Tesla from $236.00 to $238.00 and gave the company a “hold” rating in a research note on Thursday, October 24th. William Blair assumed coverage on Tesla in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Glj Research restated a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, October 17th. Finally, Bank of America lifted their price objective on shares of Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $230.18.

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.