Tesla, Inc. $TSLA Shares Sold by JB Capital LLC

Key Points

• JB Capital LLC reduced its stake in Tesla, Inc. by 12.5%, ending up with 4,420 shares worth approximately $1.4 million after selling 630 shares.
• Insider activity includes Director James R. Murdoch selling 60,000 shares for over $25 million, resulting in an 8.61% decrease in his ownership.
• Despite a drop in quarterly revenue by 11.8% year-over-year, analysts have set target prices for Tesla as high as $500, with a majority rating the stock as "buy" or "hold."

JB Capital LLC trimmed its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,420 shares of the electric vehicle producer's stock after selling 630 shares during the quarter. JB Capital LLC's holdings in Tesla were worth $1,404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Means Investment CO. Inc. raised its position in shares of Tesla by 37.7% during 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 in the last quarter. Siren L.L.C. acquired a new position in Tesla in the first quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC increased 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 purchasing an additional 826 shares during the last quarter. Keystone Global Partners LLC acquired a new stake in Tesla during the first quarter worth approximately $594,000. Finally, Strs Ohio purchased a new stake in shares of Tesla during the 1st quarter worth approximately $205,495,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company's stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last 90 days. Company insiders own 19.90% of the company's stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $413.49 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. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 239.01, a price-to-earnings-growth ratio of 15.01 and a beta of 2.08. The firm's fifty day moving average price is $375.97 and its 200 day moving average price is $327.89. Tesla, Inc. has a 1-year low of $212.11 and a 1-year 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 analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TSLA shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tesla in a research report on Wednesday. Piper Sandler upped their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research note on Monday, September 22nd. Canaccord Genuity Group lifted their target price on Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. Mizuho upped their target price on Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a research report on Tuesday, September 23rd. Finally, China Renaissance reaffirmed a "hold" rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $354.67.

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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