Dale Q Rice Investment Management Ltd Trims Position in Tesla, Inc. $TSLA

Dale Q Rice Investment Management Ltd trimmed its position in Tesla, Inc. (NASDAQ:TSLA) by 37.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,119 shares of the electric vehicle producer’s stock after selling 4,779 shares during the period. Tesla accounts for about 2.2% of Dale Q Rice Investment Management Ltd’s investment portfolio, making the stock its 10th biggest holding. Dale Q Rice Investment Management Ltd’s holdings in Tesla were worth $2,612,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Means Investment CO. Inc. increased its holdings in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Siren L.L.C. bought a new stake in shares of Tesla in the 1st quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC increased its holdings in shares of Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after acquiring an additional 826 shares during the last quarter. Keystone Global Partners LLC bought a new stake in shares of Tesla in the 1st quarter valued at approximately $594,000. Finally, Strs Ohio bought a new stake in shares of Tesla in the 1st quarter valued at approximately $205,495,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the business’s 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 sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last quarter. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TSLA shares. Stifel Nicolaus set a $483.00 target price on shares of Tesla and gave the stock a “buy” rating in a report on Wednesday, October 8th. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Benchmark reissued a “buy” rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $355.00 target price on shares of Tesla in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $363.54.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $439.31 on Friday. The firm’s 50 day moving average is $387.54 and its two-hundred day moving average is $333.25. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 253.94, a PEG ratio of 15.41 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 EPS. Tesla’s revenue was down 11.8% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.