TFC Financial Management Inc. Sells 197 Shares of Tesla, Inc. $TSLA

TFC Financial Management Inc. reduced its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,943 shares of the electric vehicle producer’s stock after selling 197 shares during the period. Tesla accounts for 0.3% of TFC Financial Management Inc.’s holdings, making the stock its 25th biggest holding. TFC Financial Management Inc.’s holdings in Tesla were worth $2,523,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Merchants Corp increased its stake in Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares in the last quarter. KWB Wealth increased its position in shares of Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after acquiring an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. increased its position in shares of Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after acquiring an additional 34 shares in the last quarter. Guyasuta Investment Advisors Inc. increased its position in shares of Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after acquiring an additional 34 shares in the last quarter. Finally, Acorn Creek Capital LLC increased its position in shares of Tesla by 1.6% during the second quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer’s stock worth $697,000 after acquiring an additional 34 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on TSLA. Royal Bank Of Canada boosted their target price on shares of Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. UBS Group set a $247.00 target price on shares of Tesla in a research report on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Tesla in a research report on Wednesday, October 8th. Finally, Wedbush boosted their price target on shares of Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $363.54.

Tesla Stock Up 2.5%

Tesla stock opened at $439.31 on Friday. 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 stock has a market cap of $1.46 trillion, a PE ratio of 253.94, a price-to-earnings-growth ratio of 15.41 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm’s 50-day simple moving average is $387.54 and its 200 day simple moving average is $333.25.

Tesla (NASDAQ:TSLA) last released 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). The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated 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 directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were 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 owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is currently owned by insiders.

Tesla Company 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.