Monetary Management Group Inc. Lowers Stock Position in Tesla, Inc. $TSLA

Monetary Management Group Inc. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,502 shares of the electric vehicle producer’s stock after selling 41 shares during the quarter. Monetary Management Group Inc.’s holdings in Tesla were worth $2,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Rinkey Investments raised its stake in Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after acquiring an additional 29 shares during the period. True Wealth Design LLC increased its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Acorn Wealth Advisors LLC increased its stake in shares of Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after purchasing an additional 36 shares during the period. Solutions 4 Wealth Ltd increased its stake in shares of Tesla by 2.0% in the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock valued at $470,000 after purchasing an additional 36 shares during the period. Finally, Capital Management Associates Inc increased its stake in shares of Tesla by 3.4% in the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the transaction, the chief financial officer owned 1,950 shares of the company’s stock, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 599,724 shares of company stock worth $213,126,501. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 1.2%

Shares of NASDAQ:TSLA opened at $320.11 on Friday. The stock has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 185.03, a PEG ratio of 11.26 and a beta of 2.33. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a 50 day moving average price of $320.98 and a 200 day moving average price of $303.96.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. The company’s quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research note on Sunday. Canaccord Genuity Group raised their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the company a “buy” rating in a research note on Thursday, April 24th. China Renaissance reiterated a “hold” rating and set a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, Glj Research reiterated a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have issued a Hold rating and nine have given a Sell 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 $303.31.

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.