Tesla, Inc. $TSLA Shares Sold by CORDA Investment Management LLC.

CORDA Investment Management LLC. reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,949 shares of the electric vehicle producer’s stock after selling 746 shares during the period. CORDA Investment Management LLC.’s holdings in Tesla were worth $1,890,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Siren L.L.C. purchased a new stake in Tesla in the first quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC boosted its position in shares of 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 buying an additional 826 shares during the period. Keystone Global Partners LLC acquired a new stake in shares of Tesla in the first quarter valued at $594,000. Strs Ohio purchased a new stake in shares of Tesla in the 1st quarter valued at $205,495,000. Finally, IFM Investors Pty Ltd lifted its stake in Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after acquiring an additional 46,087 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of several research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a research report on Wednesday. UBS Group set a $247.00 price objective on shares of Tesla in a research note on Monday, October 6th. TD Cowen upped their target price on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Guggenheim reiterated a “sell” rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Finally, Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $363.54.

Tesla Trading Up 2.5%

NASDAQ TSLA opened at $439.31 on Monday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The firm has a 50 day moving average of $387.54 and a two-hundred day moving average of $334.06. 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 stock has a market capitalization of $1.46 trillion, a PE ratio of 253.94, a price-to-earnings-growth ratio of 15.79 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released 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 firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, 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 transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. 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.