Parker Investment Management LLC Sells 297 Shares of Tesla, Inc. $TSLA

Parker Investment Management LLC lessened its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 27.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 800 shares of the electric vehicle producer’s stock after selling 297 shares during the period. Parker Investment Management LLC’s holdings in Tesla were worth $254,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Chelsea Counsel Co. lifted its holdings in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. LGT Financial Advisors LLC bought a new position in Tesla in the 2nd quarter worth $29,000. Evergreen Private Wealth LLC increased its stake in Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares in the last quarter. Glynn Capital Management LLC bought a new stake in Tesla during the second quarter valued at about $35,000. Finally, Pacific Center for Financial Services lifted its position in shares of Tesla by 44.7% in the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on TSLA shares. The Goldman Sachs Group cut their target price on Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. China Renaissance lifted their price objective on shares of Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Royal Bank Of Canada restated an “outperform” rating and set a $500.00 target price on shares of Tesla in a research report on Thursday, October 23rd. Stifel Nicolaus set a $483.00 price target on shares of Tesla and gave the company a “buy” rating in a report on Wednesday, October 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $600.00 price target on shares of Tesla in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $393.61.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was 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 approximately $269,260,263.08. The trade was a 8.61% 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 valued at $75,588,902 over the last 90 days. Insiders own 19.90% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $404.35 on Friday. The firm has a market capitalization of $1.34 trillion, a PE ratio of 269.57, a PEG ratio of 16.84 and a beta of 2.06. The stock’s fifty day moving average is $429.67 and its 200 day moving average is $360.78. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. 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 (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for 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 business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.