Goelzer Investment Management Inc. Decreases Stock Holdings in Tesla, Inc. $TSLA

Goelzer Investment Management Inc. decreased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,510 shares of the electric vehicle producer's stock after selling 2,755 shares during the quarter. Goelzer Investment Management Inc.'s holdings in Tesla were worth $3,021,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TSLA. Goldman Sachs Group Inc. increased its position in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Nuveen LLC purchased a new position in shares of Tesla during the first quarter valued at about $3,247,619,000. GAMMA Investing LLC increased its position in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares during the period. Amundi increased its position in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Up 2.8%

Shares of TSLA stock opened at $421.62 on Wednesday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a market cap of $1.36 trillion, a P/E ratio of 243.71, a P/E/G ratio of 14.30 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a 50 day simple moving average of $333.69 and a two-hundred day simple moving average of $305.35.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the company posted $0.52 earnings per share. The firm's quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on TSLA shares. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Wedbush reiterated an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Monday. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Finally, Guggenheim restated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $303.00.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,606 shares of company stock valued at $51,999,662. Insiders own 20.70% of the company's stock.

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.

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