Parker Investment Management LLC Sells 3,484 Shares of Tesla, Inc. (NASDAQ:TSLA)

Parker Investment Management LLC lowered its position in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 68.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,618 shares of the electric vehicle producer’s stock after selling 3,484 shares during the quarter. Tesla accounts for 0.1% of Parker Investment Management LLC’s holdings, making the stock its 23rd biggest position. Parker Investment Management LLC’s holdings in Tesla were worth $424,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Valley Wealth Managers Inc. bought a new stake in shares of Tesla during the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC raised its position in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after acquiring an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in shares of Tesla during the 3rd quarter valued at approximately $29,000. Clean Yield Group raised its holdings in shares of Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after purchasing an additional 48 shares during the period. Finally, Peterson Financial Group Inc. bought a new stake in Tesla in the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total value of $1,400,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $36,761,200. This represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of Tesla 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 transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $26,727,400. This trade represents a 56.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 301,187 shares of company stock worth $92,956,692. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several research reports. Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Oppenheimer reissued a “market perform” rating on shares of Tesla in a report on Tuesday, October 8th. Glj Research reaffirmed a “sell” rating and issued a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Jefferies Financial Group lifted their price target on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Nine research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $243.75.

Check Out Our Latest Research Report on TSLA

Tesla Price Performance

Shares of Tesla stock opened at $351.42 on Wednesday. The company has a market cap of $1.13 trillion, a PE ratio of 96.28, a P/E/G ratio of 11.60 and a beta of 2.36. The business has a 50 day moving average of $278.63 and a 200 day moving average of $235.10. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $361.93. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping 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 firm had revenue of $25.18 billion during the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the company posted $0.53 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current year.

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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