Chicago Capital LLC Sells 791 Shares of Tesla, Inc. $TSLA

Chicago Capital LLC decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,839 shares of the electric vehicle producer’s stock after selling 791 shares during the quarter. Chicago Capital LLC’s holdings in Tesla were worth $5,031,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC grew its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew its stake in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla in the first quarter worth approximately $27,000. Newton One Investments LLC grew its stake in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. grew its stake in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Dbs Bank increased their price objective on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Stifel Nicolaus set a $440.00 target price on Tesla in a report on Friday, September 5th. Wedbush upped their target price on Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Two 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 stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $337.15.

Tesla Stock Performance

Shares of TSLA opened at $459.46 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $359.13 and a 200-day moving average price of $318.62. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm has a market cap of $1.53 trillion, a PE ratio of 265.58, a P/E/G ratio of 15.46 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (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 during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the company earned $0.52 earnings per share. Tesla’s revenue was down 11.8% on a year-over-year basis. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the company’s 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 directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock valued at $77,360,462 in the last ninety days. Company insiders own 19.90% of the company’s stock.

Tesla Profile

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.