VestGen Investment Management Trims Position in Tesla, Inc. $TSLA

VestGen Investment Management decreased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 62.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 887 shares of the electric vehicle producer’s stock after selling 1,482 shares during the quarter. VestGen Investment Management’s holdings in Tesla were worth $282,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. LGT Financial Advisors LLC purchased a new position in Tesla during the second quarter worth approximately $29,000. Arcadia Investment Management Corp MI purchased a new position in Tesla during the first quarter worth approximately $27,000. Chelsea Counsel Co. raised its stake in Tesla by 59.7% during 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 during the period. Evergreen Private Wealth LLC raised its stake in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the period. Finally, Centennial Bank AR raised its stake in Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TSLA. Royal Bank Of Canada reissued an “outperform” rating and issued a $500.00 target price on shares of Tesla in a research note on Thursday. Mizuho raised their target price on shares of Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a research note on Thursday. BNP Paribas Exane began coverage on shares of Tesla in a research note on Thursday, October 16th. They issued an “underperform” rating and a $307.00 target price on the stock. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. Finally, Melius Research set a $520.00 target price on shares of Tesla and gave the company a “buy” rating in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have issued a Hold rating and eleven have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $381.00.

Tesla Price Performance

TSLA opened at $433.72 on Monday. The company has a fifty day simple moving average of $398.06 and a 200 day simple moving average of $341.21. The firm has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a PEG ratio of 15.45 and a beta of 2.08. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

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

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were 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 of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate 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.