Stone House Investment Management LLC Lowers Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Stone House Investment Management LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 817 shares of the electric vehicle producer’s stock after selling 145 shares during the period. Stone House Investment Management LLC’s holdings in Tesla were worth $214,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new position in Tesla during the second quarter valued at $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla during the second quarter valued at $26,000. Abich Financial Wealth Management LLC lifted its holdings in Tesla by 168.8% during the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in Tesla during the third quarter valued at $29,000. Finally, Clean Yield Group lifted its holdings in Tesla by 60.0% during the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 approximately $36,761,200. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, 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. In the last three months, insiders have sold 301,187 shares of company stock valued at $92,956,692. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA traded down $2.74 during trading hours on Wednesday, reaching $335.49. The company’s stock had a trading volume of 12,333,037 shares, compared to its average volume of 95,270,945. The stock has a market cap of $1.08 trillion, a PE ratio of 92.67, a PEG ratio of 11.00 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.93. The company’s 50-day moving average is $268.52 and its two-hundred day moving average is $229.16. 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 (NASDAQ:TSLA) last issued 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 analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. Analysts forecast that Tesla, Inc. will post 1.99 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. Royal Bank of Canada increased their price objective on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Truist Financial raised their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Bank of America raised their price target on shares of Tesla from $265.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Guggenheim raised their price target on shares of Tesla from $153.00 to $156.00 and gave the stock a “sell” rating in a research note on Thursday, October 24th. Finally, Piper Sandler raised their price target on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $231.06.

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.