Tesla, Inc. (NASDAQ:TSLA) Stake Lessened by Kaye Capital Management

Kaye Capital Management lessened its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,016 shares of the electric vehicle producer’s stock after selling 100 shares during the quarter. Kaye Capital Management’s holdings in Tesla were worth $266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Integris Wealth Management LLC lifted its stake in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock valued at $804,000 after purchasing an additional 42 shares during the last quarter. Sherrill & Hutchins Financial Advisory Inc grew its stake in Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares during the last quarter. Echo Wealth Management LLC raised its holdings in Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares during the period. WASHINGTON TRUST Co grew its position in shares of Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC boosted its holdings in Tesla by 1.6% in the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Glj Research reissued a “sell” rating and set a $24.86 price objective on shares of Tesla in a report on Thursday, October 17th. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price for the company. in a research report on Wednesday, July 24th. Citigroup lowered their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research note on Monday, October 7th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, October 8th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $211.63.

Tesla Stock Down 0.8 %

Shares of NASDAQ TSLA opened at $218.85 on Tuesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The firm has a market cap of $699.15 billion, a PE ratio of 61.47, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. The company has a 50 day simple moving average of $228.09 and a 200 day simple moving average of $205.99.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 1.75 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 8,000 shares of Tesla stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,661 shares of company stock worth $16,663,291. 20.70% of the stock is currently owned by insiders.

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.