Leibman Financial Services Inc. Reduces Stock Position in Tesla, Inc. $TSLA

Leibman Financial Services Inc. cut its stake in Tesla, Inc. (NASDAQ:TSLA) by 17.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,369 shares of the electric vehicle producer’s stock after selling 282 shares during the period. Leibman Financial Services Inc.’s holdings in Tesla were worth $435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Cherry Tree Wealth Management LLC grew its position in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank grew its position in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC grew its position in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Tesla in the first quarter worth approximately $27,000. Finally, Chelsea Counsel Co. grew its position in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 2.8%

Tesla stock opened at $421.62 on Wednesday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market cap of $1.36 trillion, a PE ratio of 243.71, a P/E/G ratio of 14.30 and a beta of 2.06. The stock’s fifty day moving average is $333.69 and its two-hundred day moving average is $305.35.

Tesla (NASDAQ:TSLA) last posted its quarterly 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 net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,606 shares of company stock worth $51,999,662. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group set a $290.00 price objective on Tesla in a research report on Monday, June 30th. Mizuho lowered their price target on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. The Goldman Sachs Group restated a “neutral” rating on shares of Tesla in a research report on Sunday, August 17th. Robert W. Baird restated a “neutral” rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Finally, HSBC restated a “reduce” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $303.00.

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.