RPG Investment Advisory LLC Sells 1,676 Shares of Tesla, Inc. $TSLA

RPG Investment Advisory LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 48.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,806 shares of the electric vehicle producer’s stock after selling 1,676 shares during the period. RPG Investment Advisory LLC’s holdings in Tesla were worth $574,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Siren L.L.C. bought a new stake in Tesla during the first quarter valued at $2,332,000. Zuckerman Investment Group LLC increased its holdings 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 valued at $3,304,000 after acquiring an additional 826 shares in the last quarter. Police & Firemen s Retirement System of New Jersey raised its holdings in Tesla by 5.6% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 427,150 shares of the electric vehicle producer’s stock worth $135,688,000 after buying an additional 22,607 shares during the last quarter. Keystone Global Partners LLC acquired a new stake in shares of Tesla in the 1st quarter worth about $594,000. Finally, Strs Ohio bought a new position in shares of Tesla in the first quarter valued at approximately $205,495,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. CICC Research lifted their target price on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Evercore ISI raised their target price on Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. HSBC restated a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. Industrial Alliance Securities set a $300.00 price target on Tesla in a research note on Monday, October 13th. Finally, Piper Sandler boosted their price objective on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $394.31.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of 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 is available in the SEC filing. Over the last quarter, insiders sold 82,606 shares of company stock valued at $33,554,102. Company insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $417.78 on Tuesday. The company has a 50 day moving average of $433.71 and a 200 day moving average of $366.49. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.39 trillion, a P/E ratio of 278.52, a P/E/G ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.