Tesla, Inc. $TSLA Shares Sold by Roof Eidam Maycock Peralta LLC

Roof Eidam Maycock Peralta LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 60.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 945 shares of the electric vehicle producer’s stock after selling 1,425 shares during the quarter. Roof Eidam Maycock Peralta LLC’s holdings in Tesla were worth $300,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. grew its position in Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after buying an additional 849,091 shares during the period. Amundi grew its position in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Invesco Ltd. grew its position in Tesla by 17.6% during the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after buying an additional 2,211,300 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA opened at $439.31 on Friday. 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 company has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.94, a PEG ratio of 15.41 and a beta of 2.08. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm’s fifty day simple moving average is $387.54 and its two-hundred day simple moving average is $333.25.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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). The company 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 business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TSLA. William Blair restated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Mizuho raised their price target on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and raised their price target for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Piper Sandler raised their price target on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Finally, Benchmark restated a “buy” rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $363.54.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s 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 transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Company 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.