Littlejohn Financial Services Inc. Reduces Holdings in Tesla, Inc. $TSLA

Littlejohn Financial Services Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 80.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 829 shares of the electric vehicle producer's stock after selling 3,391 shares during the quarter. Littlejohn Financial Services Inc.'s holdings in Tesla were worth $263,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Kennedy Investment Group boosted its position in Tesla by 12.2% during the second quarter. Kennedy Investment Group now owns 1,927 shares of the electric vehicle producer's stock worth $612,000 after purchasing an additional 209 shares during the period. Motive Wealth Advisors boosted its holdings in Tesla by 9.4% in the 2nd quarter. Motive Wealth Advisors now owns 4,675 shares of the electric vehicle producer's stock worth $1,485,000 after buying an additional 402 shares during the period. Castleview Partners LLC boosted its holdings in Tesla by 17.8% in the 2nd quarter. Castleview Partners LLC now owns 8,992 shares of the electric vehicle producer's stock worth $2,856,000 after buying an additional 1,360 shares during the period. Sylvest Advisors LLC bought a new stake in Tesla during the 2nd quarter valued at $427,000. Finally, Retirement Guys Formula LLC lifted its position in shares of Tesla by 15.5% during the second quarter. Retirement Guys Formula LLC now owns 960 shares of the electric vehicle producer's stock worth $305,000 after acquiring an additional 129 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. Wedbush reiterated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research report on Monday, September 15th. Stifel Nicolaus set a $440.00 target price on Tesla in a report on Friday, September 5th. Argus reissued a "hold" rating on shares of Tesla in a report on Monday, June 9th. Morgan Stanley restated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research report on Friday, September 5th. Finally, Glj Research reaffirmed a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, Tesla has a consensus rating of "Hold" and a consensus target price of $326.74.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated 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 owned 9,856 shares of the company's stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 over the last 90 days. Corporate insiders own 19.90% of the company's stock.

Tesla Trading Down 4.4%

Shares of Tesla stock opened at $423.39 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm has a market cap of $1.41 trillion, a PE ratio of 244.73, a PEG ratio of 15.45 and a beta of 2.06. The company has a 50 day simple moving average of $349.83 and a two-hundred day simple moving average of $312.97.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly 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 return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the company earned $0.52 EPS. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.

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