Gleason Group Inc. Reduces Stock Holdings in Tesla, Inc. $TSLA

Gleason Group Inc. reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,690 shares of the electric vehicle producer’s stock after selling 544 shares during the quarter. Gleason Group Inc.’s holdings in Tesla were worth $855,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TSLA. Means Investment CO. Inc. boosted its position in shares of Tesla by 37.7% during the first 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 in the last quarter. Focus Financial Network Inc. grew its position in shares of 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 buying an additional 670 shares during the period. Siren L.L.C. bought a new position in shares of Tesla in the 1st quarter worth about $2,332,000. Zuckerman Investment Group LLC boosted its stake in Tesla by 6.9% during the first 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 first quarter worth about $594,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,606 shares of company stock worth $77,360,462. Insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of analyst reports. Argus reissued a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Glj Research reissued a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Finally, Morgan Stanley reissued an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and an average target price of $337.15.

Tesla Price Performance

TSLA opened at $444.72 on Wednesday. The company’s 50-day simple moving average is $356.59 and its two-hundred day simple moving average is $317.64. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a market capitalization of $1.48 trillion, a P/E ratio of 257.06, a P/E/G ratio of 15.46 and a beta of 2.06. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly 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). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 earnings per share. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS 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.