RPG Investment Advisory LLC Reduces Holdings in Tesla, Inc. (NASDAQ:TSLA)

RPG Investment Advisory LLC lessened its stake in Tesla, Inc. (NASDAQ:TSLA) by 25.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,597 shares of the electric vehicle producer’s stock after selling 545 shares during the quarter. RPG Investment Advisory LLC’s holdings in Tesla were worth $418,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Alpha Paradigm Partners LLC acquired a new position in Tesla in the third quarter valued at approximately $27,000. GW&K Investment Management LLC bought a new position in Tesla during the 1st quarter worth $30,000. Mendota Financial Group LLC lifted its stake in Tesla by 3,733.3% in the second quarter. Mendota Financial Group LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after buying an additional 112 shares during the last quarter. MayTech Global Investments LLC bought a new position in shares of Tesla during the fourth quarter worth about $30,000. Finally, St. Johns Investment Management Company LLC increased its holdings in shares of Tesla by 451.9% in the 1st quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock worth $31,000 after acquiring an additional 122 shares during the period. 41.87% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of Tesla stock traded down $1.10 during trading on Monday, reaching $233.20. The company’s stock had a trading volume of 47,847,834 shares, compared to its average volume of 139,620,109. The business’s fifty day moving average price is $240.04 and its 200-day moving average price is $238.24. Tesla, Inc. has a one year low of $101.81 and a one year high of $299.29. The firm has a market cap of $741.32 billion, a price-to-earnings ratio of 74.81, a price-to-earnings-growth ratio of 4.38 and a beta of 2.28. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.18 and a current ratio of 1.69.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 18th. The electric vehicle producer reported $0.66 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). Tesla had a return on equity of 21.47% and a net margin of 11.21%. The business had revenue of $23.35 billion for the quarter, compared to analyst estimates of $24.19 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. As a group, equities research analysts predict that Tesla, Inc. will post 2.68 earnings per share for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $250.02, for a total value of $1,000,080.00. Following the completion of the transaction, the chief financial officer now directly owns 104,504 shares in the company, valued at $26,128,090.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $210.67, for a total transaction of $2,212,035.00. Following the transaction, the senior vice president now owns 68,102 shares in the company, valued at approximately $14,347,048.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 104,504 shares in the company, valued at $26,128,090.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,065 shares of company stock valued at $10,248,880. Insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TSLA shares. Wells Fargo & Company decreased their price objective on Tesla from $260.00 to $250.00 and set an “equal weight” rating for the company in a report on Thursday, October 19th. Royal Bank of Canada restated an “outperform” rating and set a $305.00 price target on shares of Tesla in a research report on Tuesday, September 26th. Guggenheim reiterated a “sell” rating and issued a $125.00 price objective on shares of Tesla in a report on Thursday, October 19th. Barclays restated an “equal weight” rating and issued a $260.00 target price on shares of Tesla in a research report on Friday, September 22nd. Finally, HSBC started coverage on Tesla in a research note on Thursday, November 9th. They issued a “reduce” rating and a $146.00 price objective on the stock. Eight research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $233.87.

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. 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.