Park Place Capital Corp Has $116,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Park Place Capital Corp decreased its position in Tesla, Inc. (NASDAQ:TSLA) by 16.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 584 shares of the electric vehicle producer’s stock after selling 111 shares during the period. Park Place Capital Corp’s holdings in Tesla were worth $116,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lam Group Inc. bought a new position in shares of Tesla during the 4th quarter valued at $25,000. OLD Point Trust & Financial Services N A bought a new position in Tesla in the 4th quarter worth $37,000. Kathleen S. Wright Associates Inc. raised its holdings in Tesla by 111.1% in the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares during the period. Guardian Wealth Management Inc. bought a new position in Tesla in the 4th quarter worth $47,000. Finally, A.P. Gilfoyle & Co. L.P. bought a new position in Tesla in the 4th quarter worth $50,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a report on Monday, July 29th. Glj Research boosted their price objective on shares of Tesla from $22.86 to $24.86 and gave the stock a “sell” rating in a report on Tuesday, July 23rd. Royal Bank of Canada dropped their price objective on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Roth Mkm restated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday, July 24th. Finally, Citigroup dropped their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $204.30.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 160,719 shares of company stock worth $32,032,968. 25.10% of the stock is owned by insiders.

Tesla Trading Down 4.2 %

NASDAQ:TSLA traded down $9.19 during trading hours on Friday, hitting $207.67. The stock had a trading volume of 82,880,120 shares, compared to its average volume of 126,158,848. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market cap of $663.43 billion, a price-to-earnings ratio of 52.98, a P/E/G ratio of 5.37 and a beta of 2.31. The business’s 50 day moving average is $210.01 and its 200-day moving average is $190.70.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

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.