Shulman DeMeo Asset Management LLC Decreases Stock Holdings in Tesla, Inc. $TSLA

Shulman DeMeo Asset Management LLC lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,114 shares of the electric vehicle producer’s stock after selling 207 shares during the period. Shulman DeMeo Asset Management LLC’s holdings in Tesla were worth $354,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after purchasing an additional 849,091 shares during the period. Amundi lifted its position in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Stifel Nicolaus set a $440.00 price objective on shares of Tesla in a report on Friday, September 5th. Morgan Stanley reiterated an “overweight” rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, September 5th. Benchmark reissued a “buy” rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. The Goldman Sachs Group lifted their price objective on Tesla from $300.00 to $395.00 and gave the stock a “neutral” rating in a report on Thursday, September 18th. Finally, HSBC reiterated a “reduce” rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $326.74.

Tesla Stock Performance

Tesla stock opened at $442.79 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a fifty day moving average price of $347.75 and a two-hundred day moving average price of $311.58. The company has a market cap of $1.47 trillion, a PE ratio of 255.95, a P/E/G ratio of 14.86 and a beta of 2.06.

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 analyst estimates of $23.18 billion. During the same period last year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,735,080.36. The trade was a 40.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 over the last ninety days. Company insiders own 19.90% of the company’s stock.

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.