Saxony Capital Management LLC Has $1.13 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Saxony Capital Management LLC reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,315 shares of the electric vehicle producer’s stock after selling 721 shares during the quarter. Tesla accounts for 1.0% of Saxony Capital Management LLC’s investment portfolio, making the stock its 29th biggest holding. Saxony Capital Management LLC’s holdings in Tesla were worth $1,129,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,661 shares of company stock valued at $16,663,291. Insiders own 25.10% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $217.97 on Wednesday. The stock has a market cap of $695.15 billion, a PE ratio of 55.60, a P/E/G ratio of 6.31 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a 50-day moving average of $228.30 and a 200-day moving average of $206.36. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $271.00.

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

Analyst Ratings Changes

A number of brokerages have weighed in on TSLA. Barclays cut their price target on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of Tesla from $224.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Glj Research reiterated a “sell” rating and set a $24.86 target price on shares of Tesla in a report on Thursday, October 17th. Sanford C. Bernstein restated an “underperform” rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $230.00 price objective on shares of Tesla in a report on Friday, October 11th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $211.63.

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.