Tesla, Inc. (NASDAQ:TSLA) Holdings Trimmed by Tennessee Valley Asset Management Partners

Tennessee Valley Asset Management Partners cut its holdings in Tesla, Inc. (NASDAQ:TSLA) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,723 shares of the electric vehicle producer’s stock after selling 176 shares during the quarter. Tennessee Valley Asset Management Partners’ holdings in Tesla were worth $539,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TSLA. Bank & Trust Co bought a new stake in shares of Tesla in the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla in the second quarter worth approximately $26,000. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla in the fourth quarter valued at $37,000. Kessler Investment Group LLC lifted its position in shares of Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 51 shares during the last quarter. Finally, Aspect Partners LLC boosted its stake in shares of Tesla by 121.3% during the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 114 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TSLA shares. Glj Research reaffirmed a “sell” rating and set a $24.86 target price on shares of Tesla in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 price objective on shares of Tesla in a report on Tuesday, September 10th. Stifel Nicolaus initiated coverage on shares of Tesla in a report on Tuesday, June 25th. They issued a “buy” rating and a $265.00 target price for the company. Citigroup cut their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, Royal Bank of Canada decreased their price objective on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $209.60.

Tesla Trading Up 0.2 %

Tesla stock opened at $230.29 on Friday. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The company’s fifty day moving average price is $223.37 and its two-hundred day moving average price is $194.63. The company has a market capitalization of $734.44 billion, a price-to-earnings ratio of 58.75, a PEG ratio of 6.08 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 EPS. On average, analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

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. 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.