Matthew 25 Management Corp Sells 6,000 Shares of Tesla, Inc. $TSLA

Matthew 25 Management Corp decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 44,000 shares of the electric vehicle producer’s stock after selling 6,000 shares during the period. Tesla makes up approximately 4.5% of Matthew 25 Management Corp’s portfolio, making the stock its 9th largest position. Matthew 25 Management Corp’s holdings in Tesla were worth $13,977,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of 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 during the last quarter. Nuveen LLC acquired a new stake in shares of Tesla in the first quarter valued at about $3,247,619,000. Kingstone Capital Partners Texas LLC increased its position in shares of Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares during the last quarter. Amundi increased its position in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. increased its position 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 acquiring an additional 3,694,524 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Stifel Nicolaus set a $483.00 price target on shares of Tesla and gave the company a “buy” rating in a research note on Wednesday, October 8th. China Renaissance increased their price target on shares of Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research note on Friday, October 24th. Mizuho increased their price target on shares of Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. DZ Bank reiterated a “sell” rating on shares of Tesla in a research note on Thursday, October 23rd. Finally, Melius assumed coverage on shares of Tesla in a research note on Monday, October 13th. They issued a “buy” rating and a $520.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $391.08.

Tesla Price Performance

NASDAQ:TSLA opened at $444.26 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The firm has a market cap of $1.48 trillion, a price-to-earnings ratio of 296.17, a P/E/G ratio of 16.84 and a beta of 2.08. The firm’s 50-day simple moving average is $414.80 and its 200 day simple moving average is $351.91.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period last year, the firm earned $0.72 EPS. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on 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 directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last three months. Corporate insiders own 19.90% of the company’s stock.

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.