Joule Financial LLC Reduces Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Joule Financial LLC cut its position in Tesla, Inc. (NASDAQ:TSLAFree Report) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,649 shares of the electric vehicle producer’s stock after selling 78 shares during the period. Tesla makes up 1.1% of Joule Financial LLC’s holdings, making the stock its 12th largest position. Joule Financial LLC’s holdings in Tesla were worth $3,089,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC raised its position in Tesla by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 59,356,401 shares of the electric vehicle producer’s stock worth $15,469,792,000 after buying an additional 1,022,589 shares during the last quarter. FMR LLC raised its holdings in shares of Tesla by 3.5% during the third quarter. FMR LLC now owns 24,741,075 shares of the electric vehicle producer’s stock worth $6,473,008,000 after purchasing an additional 828,308 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after purchasing an additional 2,946,763 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Tesla by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,545,824 shares of the electric vehicle producer’s stock valued at $4,328,884,000 after purchasing an additional 301,968 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Tesla by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 12,201,212 shares of the electric vehicle producer’s stock worth $3,192,203,000 after purchasing an additional 1,294,093 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $426.50 on Tuesday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $488.54. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. The business has a fifty day moving average of $389.94 and a two-hundred day moving average of $288.78.

Tesla (NASDAQ:TSLAGet Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. Tesla’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSLA. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Guggenheim upped their price objective on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research report on Thursday, December 5th. Robert W. Baird lifted their target price on shares of Tesla from $280.00 to $480.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. HSBC reissued a “reduce” rating and set a $124.00 price target on shares of Tesla in a report on Friday, October 11th. Finally, Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Nine research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $299.33.

View Our Latest Research Report on Tesla

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $26,727,400. This represents a 56.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 621,886 shares of company stock valued at $213,451,751. Company insiders own 20.70% of the company’s stock.

Tesla Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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