Financial Avengers Inc. Cuts Stake in Tesla, Inc. $TSLA

Financial Avengers Inc. lessened its holdings in Tesla, Inc. (NASDAQ:TSLA) by 14.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,880 shares of the electric vehicle producer’s stock after selling 1,000 shares during the quarter. Tesla accounts for 0.9% of Financial Avengers Inc.’s investment portfolio, making the stock its 21st biggest position. Financial Avengers Inc.’s holdings in Tesla were worth $1,868,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. LGT Financial Advisors LLC purchased a new stake in shares of Tesla during the second quarter valued at approximately $29,000. Chelsea Counsel Co. raised its holdings in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Evergreen Private Wealth LLC boosted its position in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 81 shares during the period. Glynn Capital Management LLC purchased a new position in shares of Tesla in the second quarter valued at about $35,000. Finally, LSV Asset Management raised its stake in shares of Tesla by 400.0% during the second quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 96 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of the 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 in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 82,606 shares of company stock valued at $33,554,102 over the last three months. Insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TSLA shares. CICC Research upped their price target on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Benchmark reaffirmed a “buy” rating on shares of Tesla in a research report on Thursday, October 23rd. Mizuho set a $475.00 price target on shares of Tesla and gave the stock an “outperform” rating in a research note on Tuesday. The Goldman Sachs Group reduced their target price on Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $394.03.

Tesla Trading Up 1.7%

Shares of NASDAQ TSLA opened at $426.58 on Thursday. The firm’s 50 day moving average price is $433.68 and its 200-day moving average price is $367.76. Tesla, Inc. has a 52-week low of $214.25 and a 52-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. The company has a market cap of $1.42 trillion, a PE ratio of 284.39, a P/E/G ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. On average, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.