Tesla, Inc. (NASDAQ:TSLA) Shares Sold by BluePointe Capital Management LLC

BluePointe Capital Management LLC lowered its holdings in Tesla, Inc. (NASDAQ:TSLA) by 8.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,685 shares of the electric vehicle producer’s stock after selling 349 shares during the period. BluePointe Capital Management LLC’s holdings in Tesla were worth $964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. International Assets Investment Management LLC increased its position in Tesla by 35,611.2% in the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after purchasing an additional 11,023,436 shares during the last quarter. Clean Energy Transition LLP lifted its holdings in Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after buying an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in shares of Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. raised its stake in Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after buying an additional 3,795,748 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Tesla by 236.8% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after purchasing an additional 1,479,378 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s 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 owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 188,797 shares of company stock worth $57,616,781 over the last quarter. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $311.18 on Friday. The company has a market cap of $998.91 billion, a P/E ratio of 85.25, a PEG ratio of 10.73 and a beta of 2.29. The business’s 50-day simple moving average is $248.48 and its 200 day simple moving average is $218.94. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla, Inc. has a one year low of $138.80 and a one year high of $358.64.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TSLA. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research report on Wednesday, October 23rd. Jefferies Financial Group boosted their price objective on Tesla from $195.00 to $300.00 and gave the company a “hold” rating in a research note on Thursday. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Finally, Phillip Securities lowered shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $228.24.

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.