Tesla, Inc. $TSLA Shares Sold by Pandora Wealth Inc.

Pandora Wealth Inc. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 800 shares of the electric vehicle producer’s stock after selling 200 shares during the quarter. Pandora Wealth Inc.’s holdings in Tesla were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Means Investment CO. Inc. boosted its holdings in Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after purchasing an additional 6,323 shares during the period. Siren L.L.C. bought a new position in shares of Tesla in the 1st quarter worth about $2,332,000. Zuckerman Investment Group LLC lifted its position in shares of Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after buying an additional 826 shares during the last quarter. Keystone Global Partners LLC bought a new position in shares of Tesla in the 1st quarter worth about $594,000. Finally, Strs Ohio bought a new position in shares of Tesla in the 1st quarter worth about $205,495,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $429.24 on Wednesday. The company has a market capitalization of $1.43 trillion, a P/E ratio of 248.12, a PEG ratio of 15.71 and a beta of 2.08. The company has a 50-day simple moving average of $380.91 and a 200 day simple moving average of $330.17. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. 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 issued 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). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company’s revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Canaccord Genuity Group raised their price target on shares of Tesla from $333.00 to $490.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Melius started coverage on shares of Tesla in a research report on Monday. They issued a “buy” rating and a $520.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $355.00 price target on shares of Tesla in a report on Friday, October 3rd. Mizuho boosted their price target on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Finally, Evercore ISI boosted their price target on shares of Tesla from $235.00 to $300.00 and gave the company an “in-line” rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus target price of $363.03.

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.