Tesla, Inc. $TSLA Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 11,609 shares of the electric vehicle producer’s stock after selling 425 shares during the period. Tesla comprises about 0.9% of Wrapmanager Inc.’s investment portfolio, making the stock its 24th biggest position. Wrapmanager Inc.’s holdings in Tesla were worth $3,688,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TSLA. Capstone Financial Advisors Inc. raised its position in Tesla by 11.3% during the second quarter. Capstone Financial Advisors Inc. now owns 3,186 shares of the electric vehicle producer’s stock valued at $1,012,000 after acquiring an additional 323 shares in the last quarter. Advisors Capital Management LLC grew its stake in shares of Tesla by 7.3% during the 2nd quarter. Advisors Capital Management LLC now owns 22,514 shares of the electric vehicle producer’s stock worth $7,152,000 after purchasing an additional 1,524 shares during the period. L & S Advisors Inc increased its holdings in shares of Tesla by 0.3% during the 2nd quarter. L & S Advisors Inc now owns 14,797 shares of the electric vehicle producer’s stock valued at $4,700,000 after purchasing an additional 45 shares in the last quarter. WP Advisors LLC lifted its stake in shares of Tesla by 2.7% in the 2nd quarter. WP Advisors LLC now owns 2,543 shares of the electric vehicle producer’s stock valued at $808,000 after purchasing an additional 68 shares during the period. Finally, Davies Financial Advisors Inc. lifted its stake in shares of Tesla by 8.0% in the 2nd quarter. Davies Financial Advisors Inc. now owns 2,919 shares of the electric vehicle producer’s stock valued at $927,000 after purchasing an additional 215 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Stifel Nicolaus set a $483.00 price objective on shares of Tesla and gave the company a “buy” rating in a report on Wednesday, October 8th. Barclays reaffirmed a “negative” rating and issued a $350.00 price target (up previously from $275.00) on shares of Tesla in a report on Thursday, October 16th. Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. President Capital boosted their price objective on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Dbs Bank upgraded Tesla to a “hold” rating in a research report 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 given a Hold rating and ten have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $393.61.

Tesla Trading Down 6.6%

Shares of TSLA opened at $401.99 on Friday. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The stock has a market cap of $1.34 trillion, a PE ratio of 267.99, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The firm’s fifty day moving average is $428.60 and its two-hundred day moving average is $359.48. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business 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 quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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.