Highline Wealth Partners LLC reduced its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,464 shares of the electric vehicle producer's stock after selling 914 shares during the quarter. Tesla makes up 1.6% of Highline Wealth Partners LLC's investment portfolio, making the stock its 19th biggest holding. Highline Wealth Partners LLC's holdings in Tesla were worth $5,548,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Means Investment CO. Inc. grew its holdings 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 worth $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. increased its position in shares of Tesla by 3.1% during the first 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 during the last quarter. Siren L.L.C. acquired a new position in Tesla in the first quarter worth about $2,332,000. Zuckerman Investment Group LLC boosted its stake in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after acquiring an additional 826 shares during the period. Finally, Keystone Global Partners LLC acquired a new position in shares of Tesla during the first quarter worth approximately $594,000. 66.20% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on TSLA. Canaccord Genuity Group boosted their target price on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Argus reiterated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Finally, Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $332.33.
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Tesla Stock Up 4.0%
Shares of NASDAQ TSLA opened at $440.40 on Friday. The firm has a fifty day simple moving average of $352.05 and a two-hundred day simple moving average of $314.88. The firm has a market capitalization of $1.46 trillion, a PE ratio of 254.57, a price-to-earnings-growth ratio of 15.36 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. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period last year, the company posted $0.52 earnings per share. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.
Insiders Place Their Bets
In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,735,080.36. This trade represents a 40.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on 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 transaction, the senior vice president 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is owned by corporate insiders.
Tesla Profile
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Free Report)
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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