E Fund Management Co. Ltd. Sells 1,477 Shares of Tesla, Inc. (NASDAQ:TSLA)

E Fund Management Co. Ltd. cut its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,798 shares of the electric vehicle producer’s stock after selling 1,477 shares during the quarter. Tesla makes up approximately 0.5% of E Fund Management Co. Ltd.’s holdings, making the stock its 27th biggest position. E Fund Management Co. Ltd.’s holdings in Tesla were worth $8,271,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bank & Trust Co bought a new position in shares of Tesla during the 2nd quarter valued at approximately $25,000. Valley Wealth Managers Inc. bought a new position in shares of Tesla during the 2nd quarter valued at approximately $26,000. OLD Point Trust & Financial Services N A purchased a new position in Tesla in the 4th quarter worth approximately $37,000. Kessler Investment Group LLC lifted its holdings in Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares in the last quarter. Finally, Aspect Partners LLC lifted its holdings in Tesla by 121.3% in the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after purchasing an additional 114 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

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

Tesla Stock Performance

Shares of Tesla stock opened at $227.87 on Wednesday. The stock’s fifty day moving average is $222.16 and its two-hundred day moving average is $194.93. The company has a market capitalization of $726.72 billion, a PE ratio of 58.13, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.93.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 EPS. As a group, analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the topic of a number of research analyst reports. Roth Mkm reissued a “neutral” rating and issued a $85.00 price target on shares of Tesla in a report on Wednesday, July 24th. Barclays lowered their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 price target on shares of Tesla in a report on Friday, September 13th. Royal Bank of Canada lowered their price target on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, UBS Group cut Tesla from a “neutral” rating to a “sell” rating and upped their price objective for the stock from $147.00 to $197.00 in a report on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $209.60.

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.