Ables Iannone Moore & Associates Inc. Has $1.21 Million Holdings in Tesla, Inc. $TSLA

Ables Iannone Moore & Associates Inc. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,797 shares of the electric vehicle producer’s stock after selling 297 shares during the period. Tesla comprises 0.8% of Ables Iannone Moore & Associates Inc.’s investment portfolio, making the stock its 25th biggest holding. Ables Iannone Moore & Associates Inc.’s holdings in Tesla were worth $1,206,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Acorn Wealth Advisors LLC raised its holdings in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after acquiring an additional 36 shares during the last quarter. Solutions 4 Wealth Ltd raised its holdings in shares of Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock worth $470,000 after acquiring an additional 36 shares during the last quarter. Capital Management Associates Inc grew its position in Tesla by 3.4% in the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock worth $302,000 after purchasing an additional 38 shares in the last quarter. Graney & King LLC grew its position in Tesla by 18.4% in the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer’s stock worth $63,000 after purchasing an additional 38 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. grew its position in Tesla by 3.8% in the 1st quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer’s stock worth $278,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,606 shares of company stock valued at $51,999,662. Company insiders own 20.70% of the company’s stock.

Tesla Stock Up 7.4%

Tesla stock opened at $395.94 on Friday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The firm has a 50 day moving average price of $328.89 and a 200-day moving average price of $303.57. The company has a market capitalization of $1.28 trillion, a P/E ratio of 228.87, a P/E/G ratio of 12.87 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the business posted $0.52 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TSLA. Benchmark reaffirmed a “buy” rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Mizuho reduced their price objective on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Tesla in a research report on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus target price of $303.00.

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.