Interchange Capital Partners LLC Has $3.72 Million Stock Position in Tesla, Inc. $TSLA

Interchange Capital Partners LLC decreased its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,694 shares of the electric vehicle producer’s stock after selling 326 shares during the period. Tesla makes up 0.9% of Interchange Capital Partners LLC’s portfolio, making the stock its 21st largest holding. Interchange Capital Partners LLC’s holdings in Tesla were worth $3,715,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Merchants Corp lifted its position in Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after purchasing an additional 31 shares during the period. Alaska Wealth Advisors lifted its position in Tesla by 3.4% in the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after purchasing an additional 32 shares during the period. KWB Wealth lifted its position in Tesla by 2.4% in the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after purchasing an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. lifted its holdings 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 valued at $310,000 after acquiring an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. lifted its holdings 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 valued at $1,622,000 after acquiring an additional 34 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSLA. Melius Research set a $520.00 price objective on Tesla and gave the company a “buy” rating in a report on Monday, October 13th. JPMorgan Chase & Co. lifted their price objective on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Wall Street Zen raised Tesla from a “sell” rating to a “hold” rating in a report on Saturday. Canaccord Genuity Group cut their price objective on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a report on Thursday. Finally, DZ Bank reissued a “sell” rating on shares of Tesla in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $381.70.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% 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 worth $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of TSLA stock opened at $433.72 on Friday. The stock has a 50-day moving average price of $398.06 and a 200 day moving average price of $340.74. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a PEG ratio of 15.59 and a beta of 2.08. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.