Gladstone Institutional Advisory LLC reduced its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 11.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,726 shares of the electric vehicle producer’s stock after selling 4,532 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Tesla were worth $8,629,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. WealthPlan Investment Management LLC increased its stake in Tesla by 20,641.9% during the third quarter. WealthPlan Investment Management LLC now owns 12,860 shares of the electric vehicle producer’s stock valued at $3,218,000 after purchasing an additional 12,798 shares during the last quarter. Pittenger & Anderson Inc. lifted its holdings in Tesla by 4.6% in the third quarter. Pittenger & Anderson Inc. now owns 3,021 shares of the electric vehicle producer’s stock worth $756,000 after acquiring an additional 134 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Tesla in the third quarter valued at approximately $1,455,000. Palisades Hudson Asset Management L.P. grew its holdings in shares of Tesla by 27.1% during the third quarter. Palisades Hudson Asset Management L.P. now owns 1,272 shares of the electric vehicle producer’s stock valued at $318,000 after purchasing an additional 271 shares during the last quarter. Finally, Your Advocates Ltd. LLP raised its position in shares of Tesla by 3.8% during the 3rd quarter. Your Advocates Ltd. LLP now owns 2,708 shares of the electric vehicle producer’s stock worth $678,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.
Tesla Trading Up 1.5 %
Tesla stock traded up $2.62 during midday trading on Friday, reaching $177.46. The stock had a trading volume of 77,445,845 shares, compared to its average volume of 101,769,696. The firm’s fifty day simple moving average is $170.82 and its two-hundred day simple moving average is $202.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $299.29. The firm has a market cap of $565.96 billion, a price-to-earnings ratio of 45.27, a PEG ratio of 4.89 and a beta of 2.41.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Equities analysts anticipate that Tesla, Inc. will post 1.89 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have weighed in on TSLA. Canaccord Genuity Group dropped their target price on Tesla from $234.00 to $222.00 and set a “buy” rating on the stock in a research report on Wednesday, April 24th. Morgan Stanley reduced their target price on shares of Tesla from $320.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Daiwa Capital Markets lowered shares of Tesla from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $245.00 to $195.00 in a research note on Tuesday, February 6th. Wells Fargo & Company reduced their price objective on Tesla from $125.00 to $120.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. Finally, Roth Mkm restated a “neutral” rating and issued a $85.00 target price on shares of Tesla in a research report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $185.90.
Check Out Our Latest Research Report on Tesla
Insider Activity
In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,706 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total value of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $2,920,950. The disclosure for this sale can be found here. Insiders have sold 302,803 shares of company stock worth $56,124,840 in the last 90 days. Company insiders own 25.10% of the company’s stock.
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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