Rice Partnership LLC Sells 2,464 Shares of Tesla, Inc. $TSLA

Rice Partnership LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,582 shares of the electric vehicle producer's stock after selling 2,464 shares during the quarter. Rice Partnership LLC's holdings in Tesla were worth $2,408,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC raised its holdings in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after buying an additional 931 shares during the period. Bison Wealth LLC raised its holdings in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after buying an additional 3,558 shares during the period. GAMMA Investing LLC raised its holdings in Tesla by 6.0% during the 1st quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer's stock valued at $9,812,000 after buying an additional 2,153 shares during the period. Finally, Polianta Ltd purchased a new stake in Tesla during the 1st quarter valued at $1,114,000. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value 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 approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company's stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on TSLA. Cantor Fitzgerald restated an "overweight" rating and set a $355.00 price target on shares of Tesla in a report on Friday, October 3rd. William Blair reiterated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Finally, China Renaissance reiterated a "hold" rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company's stock. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $354.67.

Tesla Price Performance

TSLA opened at $413.49 on Friday. The business's 50-day moving average is $375.97 and its two-hundred day moving average is $327.51. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 15.81 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. Research analysts anticipate 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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