Presidio Capital Management LLC Sells 497 Shares of Tesla, Inc. (NASDAQ:TSLA)

Presidio Capital Management LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.8% during the third quarter, HoldingsChannel reports. The firm owned 4,556 shares of the electric vehicle producer’s stock after selling 497 shares during the quarter. Tesla comprises 0.8% of Presidio Capital Management LLC’s portfolio, making the stock its 19th largest holding. Presidio Capital Management LLC’s holdings in Tesla were worth $1,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Integris Wealth Management LLC raised its holdings in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after buying an additional 42 shares during the period. Sherrill & Hutchins Financial Advisory Inc raised its holdings in shares of Tesla by 1.4% during the third quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock worth $800,000 after acquiring an additional 43 shares during the period. Echo Wealth Management LLC raised its holdings in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares during the period. WASHINGTON TRUST Co lifted its position in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares in the last quarter. Finally, Bellevue Asset Management LLC boosted its stake in Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the transaction, the director now directly owns 1,563,220 shares in the company, valued at $391,164,540.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the business’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 completion of the transaction, the chief financial officer now owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $250.23, for a total value of $15,138,915.00. Following the sale, the director now owns 1,563,220 shares in the company, valued at $391,164,540.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,797 shares of company stock valued at $19,211,821. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Friday, October 11th. Phillip Securities raised Tesla to a “moderate sell” rating in a research report on Friday, October 25th. Wedbush reiterated an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a report on Thursday, October 24th. Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Finally, Wolfe Research initiated coverage on shares of Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and an average target price of $222.03.

Tesla Price Performance

Tesla stock opened at $296.91 on Friday. The stock’s fifty day moving average price is $237.23 and its two-hundred day moving average price is $213.07. The firm has a market cap of $953.10 billion, a PE ratio of 81.35, a price-to-earnings-growth ratio of 9.51 and a beta of 2.29. 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 one year low of $138.80 and a one year high of $299.75.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. Tesla’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 1.96 EPS for the current fiscal year.

About Tesla

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.