Tesla, Inc. (NASDAQ:TSLA) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its holdings in Tesla, Inc. (NASDAQ:TSLA) by 80.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,492 shares of the electric vehicle producer’s stock after selling 72,376 shares during the quarter. Edgestream Partners L.P.’s holdings in Tesla were worth $4,576,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of TSLA. First Hawaiian Bank lifted its stake in Tesla by 2.0% in the 2nd quarter. First Hawaiian Bank now owns 7,296 shares of the electric vehicle producer’s stock worth $1,444,000 after purchasing an additional 144 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Tesla during the 2nd quarter valued at approximately $578,000. Bank & Trust Co purchased a new stake in shares of Tesla during the 2nd quarter valued at approximately $25,000. City State Bank raised its position in shares of Tesla by 119.3% during the 2nd quarter. City State Bank now owns 2,730 shares of the electric vehicle producer’s stock valued at $540,000 after buying an additional 1,485 shares during the period. Finally, Quent Capital LLC raised its position in shares of Tesla by 2.1% during the 2nd quarter. Quent Capital LLC now owns 11,480 shares of the electric vehicle producer’s stock valued at $2,272,000 after buying an additional 236 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on TSLA. Stifel Nicolaus lifted their price target on shares of Tesla from $265.00 to $287.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Canaccord Genuity Group boosted their target price on Tesla from $254.00 to $278.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Robert W. Baird reissued an “outperform” rating and issued a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. The Goldman Sachs Group boosted their target price on Tesla from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, KGI Securities raised Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 target price on the stock in a research report on Thursday, October 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $231.06.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 301,187 shares of company stock valued at $92,956,692. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $345.16 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $361.93. The company has a market capitalization of $1.11 trillion, a PE ratio of 94.56, a P/E/G ratio of 11.21 and a beta of 2.29. The company has a fifty day moving average of $274.55 and a two-hundred day moving average of $232.18.

Tesla (NASDAQ:TSLA) last released 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. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Tesla’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 1.99 earnings per share for the current year.

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.