Schmidt P J Investment Management Inc. Trims Stock Position in Tesla, Inc. $TSLA

Schmidt P J Investment Management Inc. lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 27.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the electric vehicle producer’s stock after selling 2,276 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Tesla were worth $1,906,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TSLA. First Merchants Corp raised its position in Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares during the last quarter. Alaska Wealth Advisors raised its position in Tesla by 3.4% in the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after purchasing an additional 32 shares during the last quarter. KWB Wealth raised its position in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after purchasing an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. raised its position in Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after purchasing an additional 34 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its position in Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after purchasing an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TSLA. Wall Street Zen upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research report on Saturday. Canaccord Genuity Group reduced their price target on shares of Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research report on Thursday. Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. UBS Group set a $247.00 price objective on shares of Tesla in a research note on Monday, October 6th. Finally, Barclays reissued a “negative” rating and issued a $350.00 price objective (up from $275.00) on shares of Tesla in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $381.00.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. 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 in the last ninety days. 19.90% of the stock is currently owned by company insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $433.72 on Monday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The stock has a market cap of $1.44 trillion, a PE ratio of 289.15, a price-to-earnings-growth ratio of 15.45 and a beta of 2.08. The firm’s fifty day simple moving average is $398.06 and its 200-day simple moving average is $341.21.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the company posted $0.72 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.