Narwhal Capital Management Has $1.28 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Narwhal Capital Management cut its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,896 shares of the electric vehicle producer’s stock after selling 1,283 shares during the quarter. Narwhal Capital Management’s holdings in Tesla were worth $1,281,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Sound Income Strategies LLC lifted its holdings in Tesla by 87.2% during the 1st quarter. Sound Income Strategies LLC now owns 9,727 shares of the electric vehicle producer’s stock worth $1,710,000 after purchasing an additional 4,530 shares during the last quarter. Brookstone Capital Management lifted its holdings in shares of Tesla by 19.1% during the first quarter. Brookstone Capital Management now owns 117,384 shares of the electric vehicle producer’s stock worth $20,635,000 after buying an additional 18,844 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Tesla in the first quarter valued at about $79,000. Sovereign Financial Group Inc. grew its stake in shares of Tesla by 5.2% in the first quarter. Sovereign Financial Group Inc. now owns 2,076 shares of the electric vehicle producer’s stock valued at $365,000 after acquiring an additional 102 shares in the last quarter. Finally, GoalVest Advisory LLC increased its position in Tesla by 7,111.9% during the first quarter. GoalVest Advisory LLC now owns 7,861 shares of the electric vehicle producer’s stock worth $1,382,000 after acquiring an additional 7,752 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,661 shares of company stock worth $16,663,291. 25.10% of the stock is currently owned by insiders.

Tesla Stock Down 0.4 %

Shares of NASDAQ:TSLA opened at $217.97 on Wednesday. The business has a fifty day simple moving average of $228.30 and a 200 day simple moving average of $206.36. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $271.00. The firm has a market cap of $695.15 billion, a P/E ratio of 55.60, a P/E/G ratio of 6.31 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 (NASDAQ:TSLA) last posted 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 during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. Analysts predict that Tesla, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TSLA. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a report on Wednesday, July 24th. TD Cowen increased their price target on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Glj Research reaffirmed a “sell” rating and issued a $24.86 price objective on shares of Tesla in a report on Thursday, October 17th. William Blair started coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Stifel Nicolaus assumed coverage on Tesla in a research note on Tuesday, June 25th. They issued a “buy” rating and a $265.00 price target for the company. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $211.63.

Tesla 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.