Tesla, Inc. $TSLA Shares Sold by Abacus Planning Group Inc.

Key Points

• Abacus Planning Group Inc. has reduced its position in Tesla, Inc. by 43.0%, owning 1,133 shares valued at approximately $360,000 after selling 854 shares.
• Wall Street analysts have raised Tesla's price targets, with Goldman Sachs increasing it to $395.00 and Piper Sandler pushing it to $500.00, while the stock currently holds a consensus rating of "Hold".
• Tesla's CFO sold 4,000 shares worth around $1.17 million, representing a 40.31% decrease in their ownership, while \strong>insiders have sold a total of 208,606 shares valued at over $77 million in the last 90 days.

Abacus Planning Group Inc. reduced its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 43.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,133 shares of the electric vehicle producer's stock after selling 854 shares during the period. Abacus Planning Group Inc.'s holdings in Tesla were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Means Investment CO. Inc. lifted its stake in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares during the period. Focus Financial Network Inc. increased its holdings in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after acquiring an additional 670 shares in the last quarter. Siren L.L.C. purchased a new stake in Tesla in the 1st quarter worth $2,332,000. Zuckerman Investment Group LLC increased its holdings in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock worth $3,304,000 after acquiring an additional 826 shares in the last quarter. Finally, Keystone Global Partners LLC purchased a new stake in Tesla in the 1st quarter worth $594,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. The Goldman Sachs Group boosted their price target on shares of Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a report on Thursday, September 18th. CICC Research boosted their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a report on Thursday, September 18th. Piper Sandler boosted their price target on shares of Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a report on Monday. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Finally, Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday. Two equities research 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $324.53.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 over the last 90 days. 19.90% of the stock is owned by insiders.

Tesla Trading Up 1.9%

NASDAQ TSLA opened at $434.21 on Tuesday. The firm's 50-day moving average is $343.03 and its two-hundred day moving average is $309.87. Tesla, Inc. has a 12 month low of $212.11 and a 12 month 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 stock has a market capitalization of $1.44 trillion, a P/E ratio of 250.99, a PEG ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the company earned $0.52 EPS. The company's quarterly revenue was down 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current 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.

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