Woodstock Corp reduced its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 18.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,191 shares of the electric vehicle producer’s stock after selling 700 shares during the quarter. Woodstock Corp’s holdings in Tesla were worth $835,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Alpha Paradigm Partners LLC purchased a new position in Tesla in the third quarter worth approximately $27,000. GW&K Investment Management LLC purchased a new position in Tesla during the first quarter worth about $30,000. St. Johns Investment Management Company LLC increased its position in shares of Tesla by 451.9% during the first quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock valued at $31,000 after acquiring an additional 122 shares during the last quarter. Worth Asset Management LLC purchased a new stake in shares of Tesla in the 1st quarter valued at approximately $111,000. Finally, Magellan Asset Management Ltd acquired a new position in Tesla during the first quarter worth $34,000. 41.87% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
TSLA has been the topic of several research analyst reports. The Goldman Sachs Group boosted their price objective on Tesla from $248.00 to $275.00 and gave the company a “neutral” rating in a report on Monday, July 3rd. TD Cowen increased their price target on shares of Tesla from $150.00 to $200.00 and gave the stock a “market perform” rating in a research report on Thursday, July 20th. Wells Fargo & Company upped their target price on shares of Tesla from $170.00 to $265.00 and gave the stock an “equal weight” rating in a research note on Monday, July 17th. Bank of America raised their price target on shares of Tesla from $225.00 to $300.00 in a research report on Thursday, July 6th. Finally, StockNews.com began coverage on Tesla in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $239.43.
Insider Buying and Selling at Tesla
In other Tesla news, CAO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $278.36, for a total transaction of $1,113,440.00. Following the transaction, the chief accounting officer now owns 104,504 shares in the company, valued at approximately $29,089,733.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $243.13, for a total transaction of $2,552,865.00. Following the transaction, the senior vice president now directly owns 66,834 shares in the company, valued at $16,249,350.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $278.36, for a total transaction of $1,113,440.00. Following the sale, the chief accounting officer now owns 104,504 shares of the company’s stock, valued at $29,089,733.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,815 shares of company stock valued at $14,384,135. 25.10% of the stock is owned by company insiders.
Tesla Trading Down 0.6 %
Shares of Tesla stock opened at $274.39 on Friday. The company’s fifty day moving average is $255.83 and its two-hundred day moving average is $220.11. Tesla, Inc. has a 1 year low of $101.81 and a 1 year high of $313.80. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.07 and a current ratio of 1.59. The company has a market capitalization of $870.91 billion, a P/E ratio of 77.73, a PEG ratio of 4.30 and a beta of 2.09.
Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.22. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The firm had revenue of $24.93 billion for the quarter, compared to analysts’ expectations of $24.22 billion. During the same quarter in the previous year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. Analysts forecast that Tesla, Inc. will post 2.94 earnings per share for the current year.
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.
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