Quadrant Private Wealth Management LLC Has $1.73 Million Holdings in Tesla, Inc. $TSLA

Quadrant Private Wealth Management LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,443 shares of the electric vehicle producer’s stock after selling 584 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Tesla were worth $1,729,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. LGT Financial Advisors LLC bought a new position in Tesla in the second quarter valued at approximately $29,000. Chelsea Counsel Co. lifted its stake in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Evergreen Private Wealth LLC boosted its holdings in shares of Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Maseco LLP bought a new position in shares of Tesla in the 2nd quarter valued at $39,000. Finally, Morton Brown Family Wealth LLC raised its holdings in shares of Tesla by 36.0% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 136 shares of the electric vehicle producer’s stock worth $43,000 after buying an additional 36 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wall Street Zen raised Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Canaccord Genuity Group reduced their price target on shares of Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. Bank of America lifted their price target on shares of Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Finally, Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and eleven have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus price target of $391.08.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last three months. Company insiders own 19.90% of the company’s stock.

Tesla Stock Down 3.7%

Shares of NASDAQ TSLA opened at $429.52 on Friday. The company has a 50 day simple moving average of $420.97 and a 200 day simple moving average of $354.73. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The firm has a market cap of $1.43 trillion, a PE ratio of 286.35, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS. On average, research analysts forecast 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.