Epiq Partners LLC Sells 256 Shares of Tesla, Inc. $TSLA

Epiq Partners LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,361 shares of the electric vehicle producer’s stock after selling 256 shares during the period. Epiq Partners LLC’s holdings in Tesla were worth $432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Means Investment CO. Inc. increased its holdings in 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 during the period. Focus Financial Network Inc. increased its holdings in Tesla by 3.1% during 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 during the period. Siren L.L.C. bought a new stake in Tesla during the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC increased its holdings in Tesla by 6.9% during 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 during the period. Finally, Keystone Global Partners LLC bought a new stake in Tesla during the 1st quarter worth approximately $594,000. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 2.8%

Shares of TSLA opened at $421.62 on Wednesday. The stock has a market capitalization of $1.36 trillion, a P/E ratio of 243.71, a PEG ratio of 14.30 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $333.69 and a two-hundred day simple moving average of $305.35. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate 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 net margin of 6.54% and a return on equity of 7.98%. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Tesla in a report on Sunday, August 17th. HSBC reaffirmed a “reduce” rating and set a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. Royal Bank Of Canada reissued an “overweight” rating on shares of Tesla in a report on Tuesday, July 29th. Robert W. Baird reissued a “neutral” rating and issued a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Finally, China Renaissance reissued a “hold” rating and issued a $349.00 price target on shares of Tesla in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $303.00.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated 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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The stock was 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 owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,606 shares of company stock valued at $51,999,662. Company insiders own 20.70% 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.