Manhattan West Asset Management LLC Has $1.37 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Manhattan West Asset Management LLC lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,604 shares of the electric vehicle producer’s stock after selling 1,997 shares during the period. Manhattan West Asset Management LLC’s holdings in Tesla were worth $1,370,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Abbot Financial Management Inc. acquired a new position in shares of Tesla during the first quarter valued at about $288,000. Price T Rowe Associates Inc. MD raised its position in Tesla by 52.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,224,189 shares of the electric vehicle producer’s stock worth $5,440,471,000 after purchasing an additional 9,034,938 shares in the last quarter. Douglass Winthrop Advisors LLC raised its position in Tesla by 1.7% in the first quarter. Douglass Winthrop Advisors LLC now owns 14,649 shares of the electric vehicle producer’s stock worth $3,039,000 after purchasing an additional 240 shares in the last quarter. Stephens Inc. AR raised its position in Tesla by 1.8% in the first quarter. Stephens Inc. AR now owns 31,979 shares of the electric vehicle producer’s stock worth $6,634,000 after purchasing an additional 576 shares in the last quarter. Finally, Avalon Investment & Advisory raised its position in Tesla by 651.8% in the first quarter. Avalon Investment & Advisory now owns 65,291 shares of the electric vehicle producer’s stock worth $13,545,000 after purchasing an additional 56,606 shares in the last quarter. Institutional investors and hedge funds own 41.87% of the company’s stock.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 1,065 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the transaction, the senior vice president now owns 59,540 shares of the company’s stock, valued at $14,862,374.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Xiaotong Zhu sold 1,065 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $249.62, for a total value of $265,845.30. Following the completion of the transaction, the senior vice president now owns 59,540 shares of the company’s stock, valued at $14,862,374.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $250.02, for a total transaction of $1,000,080.00. Following the completion of the transaction, the chief financial officer now directly owns 104,504 shares of the company’s stock, valued at approximately $26,128,090.08. The disclosure for this sale can be found here. Insiders have sold a total of 58,315 shares of company stock worth $15,034,135 over the last ninety days. Company insiders own 25.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TSLA. Barclays lowered shares of Tesla from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $220.00 to $260.00 in a research report on Wednesday, June 21st. Morgan Stanley reissued an “equal weight” rating and issued a $250.00 price target on shares of Tesla in a research report on Friday, July 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Tesla from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Monday, July 3rd. Citigroup upped their price objective on shares of Tesla from $215.00 to $278.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 12th. Finally, DZ Bank cut shares of Tesla from a “buy” rating to a “sell” rating and set a $210.00 price objective on the stock. in a research note on Friday, June 23rd. Six equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $233.77.

Tesla Trading Down 1.2 %

TSLA stock traded down $2.99 during midday trading on Friday, reaching $248.50. The company’s stock had a trading volume of 118,559,635 shares, compared to its average volume of 109,796,720. Tesla, Inc. has a 52 week low of $101.81 and a 52 week high of $313.80. The stock has a market cap of $788.74 billion, a PE ratio of 70.40, a price-to-earnings-growth ratio of 3.92 and a beta of 2.09. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. The business’s 50-day simple moving average is $256.44 and its 200-day simple moving average is $218.23.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The business had revenue of $24.93 billion for the quarter, compared to analyst estimates of $24.22 billion. During the same period last year, the business posted $0.65 earnings per share. The firm’s quarterly revenue was up 47.2% on a year-over-year basis. As a group, sell-side analysts expect that Tesla, Inc. will post 2.94 EPS for the current year.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.